Research On The Modern Transformation Of Shanxi Traditional Finance Industry In The Late Qing Dynasty And The Republic Of China

As a powerful folk financial force,Jin merchants in the Ming and Qing dynasties promoted the economic prosperity of Shanxi and northern China.However,with the great changes in the social form in the late Qing dynasty,the merchants of Jin,represented by most of Shanxi exchange shop,never recovered after a setback.Despite the attempts of transformation in the later period,they still failed to achieve the glory of the past.In this paper,the Dadetong exchange shop selected as the outstanding representative of Shanxi exchange shop,but also one of the concentrated embodiment of the spirit of Jin merchants.At the early stage of its establishment,Dade tong exchange shop was in the peak period of Shanxi exchange shop’s development,and its operation and development drew lessons from other exchange shop’s experience,so it was able to develop smoothly,and its road of modernization and transformation was also of great representative significance.Therefore,by taking the Dadetong exchange shop as the research center,the trend and path of the development of local financial industry in Shanxi Province in modern times can be displayed intuitively,and the unique contribution of folk financial industry to social and economic development in the transformation and development can be revealed.The structure of this paper is divided into introduction,chapter 1 to chapter 4 and conclusion.The first chapter introduces the basic situation of Shanxi banknotes in the Qing dynasty and the historical background of the modern transformation in the late Qing dynasty.The second and third chapters respectively discuss the establishment,development and the difficult process and path of the modern transformation of Dadetong exchange shop.The fourth chapter summarizes the main characteristics of the modern transformation of Dadetong exchange shop,and makes an objective assessment of its transformation success and failure as well as its gains and losses,and analyzes and discusses the internal and external reasons for its difficult transformation and incomplete transformation.Due to the strong capital support,rich management experience,prudent management policy,strict rules and regulations,flexible organizational structure and other factors,Dadetong exchange shop has become one of the oldest in Shanxi,and was able to transform into Dadetong bank in1940.This event is of great significance to the transformation and development of the private financial industry.However,in terms of the business volume of Dadetong bank after the transformation,it did not restore its former glory,and the incomplete transformation exposed various weaknesses of Shanxi’s folk financial industry during the republic of China period,leaving precious spiritual wealth and space for reflection for future generations.In the author’s opinion,the modern transformation of Dadetong exchange shop has been very bumpy and difficult.The transformation has not been completely finished,but as a semi-traditional and semi-modern local financial institution,it is difficult to survive.This just shows its semi-colonial and semi-feudal financial institutions characteristics.