Study On The Financial Forerunner In The Three Economic Transitions Of Shanxi From Ming & Qing Dynasties To The Republic Of China

Due to the unique resource endowment and location advantages,Shanxi Province has gradually evolved,after nearly half a century of development under the overall planning and continuous leadership of the central and local governments,into a national energy and heavy chemical industry base.Under the precise guidance of industrial and financial policies,resource-based industries had been developed at a rapid pace.However,the explosion of resource-based industries heavily suppressed and excluded the development of other industries.The industrial layout in Shanxi turns out to be monotonous.The natural resource-based industry forms an absolute dominant position in the economy.Since the products of these resource-based industries are energy consumed,low-ended and leads to heavy pollution,Shanxi's economic development was unsustainable.Therefore,an economic transformation was imperative and necessary at that time.From the end of the last century to the present,the government of Shanxi province has gradually noticed the necessity and urgency of Shanxi's economic transition and established the development strategy of economic transition step-by-step.However,the effect of the transition is inconspicuous.By the end of 2010,the National Development and Reform Commission officially approved the establishment of "Shanxi Province National Resource-based Economic Transformation Comprehensive Supporting Reform Experimental Zone." In this context,the transformation and development of Shanxi's economy has drawn great attention at the policy level,and relevant academic researches and explorations are also emerging in an endless stream.At present,a large number of studies are limited to the policy experiment level,which includes industrial structure adjustment,technological structure adjustment,product structure adjustment and regional layout adjustment.The research on the driving force of economic restructuring-the original impetus and continuous driving force of economic restructuring – are less involved.The transformation of Shanxi's economic development model requires not only the theoretical guidance,but also the guidance of historical practical experience.Based on the research of financial history,this paper uses the financial leading theory and analyzes the historical process of the three economic transitions in Shanxi history-from the revolution of commerce and finance in Shanxi during the Ming and Qing Dynastiesto the embryonic form of industrialization in 1840-1911 and the comprehensive Industrialization-Conducting a systematic historical analysis,summarizing the historical laws of Shanxi's long-term economic development and several transitions,attempting to find the source impetus in the process of economic evolution and development,finding science for the economic restructuring of Shanxi's resource-based regions and the establishment of the coordination mechanism for financial support the path and method.The evolution of Shanxi's economy is unique due to its unique natural environment and geographical location.Shanxi has over 3,000 years of history and nurtured the earliest Chinese civilization.It is one of the birthplaces of the Chinese nation and is known as the "cradle of Chinese civilization." The first transformation of the Shanxi economy was the transformation from the primitive hunting and gathering to primitive livestock husbandry and agriculture.Shanxi is located in the middle reaches of the Yellow River.It is a typical Loess Plateau.The interior of the plateau is undulating.80% of the area are mountains,hills.The plains and river valley that suitable for cultivation only account for 20%.Shanxi province has large north-south span,from the Tianzhen County,north of the village(north latitude 40°44')to the Yancheng County,south of Zhangcun County(latitude 34°34'),spanning more than 680 kilometers,across the latitude 6 ° 10 '.Therefore,the natural environment such as landform and climate between the north and the south is very different.The northern part is close to Inner Mongolia.The climate is cold and the hills are all over the area.This area is suitable for animal husbandry.The southern part is close to the Yellow River,with a warm climate and a gentle terrain that is suitable for farming.Thus,from Xia Shang to the Song and Yuan Dynasties,for more than three thousand years,the economy has gradually transformed into a natural economy with both agriculture and animal husbandry.Farming and animal husbandry have gradually established the dominant position of the traditional agricultural economy.This period is also the gradual formation and fast development period of the Chinese civilization.With the increase of population,under the traditional agricultural economic paradigm,limited land resources are gradually unable to carry an increasing population.As a result,the second transformation of the Shanxi economy quietly began.The handicraft workers and traders are gradually separated from the agricultural population.In the Ming and Qing Dynasties,Shanxi's economy gradually transformed into acommercial economy.More and more people are engaged in commerce,forming a situation in which "the merchant is six or seven in ten".The vigorous development of Shanxi's commercial economy has accumulated abundant wealth for the Shanxi region.At the end of the Qing Dynasty,the Westernization Movement swept across the country,and the Shanxi economy began its third economic transformation—a transition to a preliminary industrialized economy.Although the transformation was not completed,it laid the foundation for the subsequent economic transformation.In the early years of the Republic of China,Yan Xishan was in charge of Shanxi.He utilized the wealth accumulated by Shanxi merchants and the foundation of preliminary industrialization laid down during the Westernization Movement,to made a large amount of investment in steel,machinery,chemistry,electricity,building materials,etc.Shanxi's economy began its fourth transformation-comprehensive industrial transformation.In the 1930 s,Shanxi Province became a strong industrial province and model province.After the founding of New China,Shanxi continued to play its resource endowment advantage.Under the impetus of the national macro-planning and industrial tilt policy,Shanxi's economy continued to transform into an industrialized economy.Driven by the state's planned,step-by-step,and large-scale investment,after the construction of key projects in the early period of the founding of the People's Republic of China and the “three-line construction” in the 1960 s and 1970 s,Shanxi became a well-established,complete industrial,light and heavy industry in the well-planned industrialized economy.The development of Shanxi's economy is at the forefront of the country.After the reform and opening up,the country's economic development,especially the coastal cities in the south developed rapidly,and the supply of energy became the bottleneck of economic development.This unprecedented and urgent demand has become the direct driving force for the re-transformation of Shanxi's economy.Under the country's large-scale key investment,Shanxi's economy has completed its fifth economic transformation,eventually becoming China's energy heavy chemical industry base,and Shanxi's economy has been transformed into a resource-based resource-oriented economic system.The Shanxi economy experienced five economic transformations during the evolution and development described above.They are: the transformation of the hunting and collecting economy into the primitive animal husbandry and agricultural economy in the primitive society;the transition from a mixed farming economy to a commercialeconomy;the transition from a commercial economy to a preliminary industrialized economy;the transition from a preliminary industrialized economy to a fully industrialized economy;Transforming to the energy and heavy chemical industry.This article intercepts Shanxi's historical period from the Ming and Qing Dynasties to the Republic of China as a research object.From this historical review,we can see that the Shanxi economy experienced three distinct economic transformations during this period of history.First,the transition from the traditional farming-pastoral mixed economy to the commercial economy in the Ming and Qing Dynasties;the second was the transition from commercial economy to preliminary industrialization in the late Qing Dynasty;and third,the transition from primary industrialization to comprehensive industrialization during the Republic of China.This paper uses three chapters to conduct in-depth research and analysis on the above three stages.At each stage,the economic and financial development of Shanxi at that time was taken as the research object to summarize and summarize the role of finance in promoting the economy in the process of economic transformation and development.During the Ming and Qing Dynasties,Shanxi's economy experienced a transition from a natural farming-pastoral mixed economy to a commercial economy.From a macroscopic and historical point of view,the multi-ethnic mixed living in the Han Dynasty,the difference in production patterns and living habits caused the humanistic inevitability of transactions;from the perspective of economic geography,the Longmen meteorite line crossed the entire Sanjin land.The economic model of farming and animal husbandry is formed in the entire Shanxi region,and the differences in the production products in the region are formed,which has the natural necessity of trading.Therefore,as the frequency,scale and scope of transactions continue to expand and improve,semi-professional and professional businessmen naturally arise.Commercial capital has slowly accumulated.With the emergence of financial institutions such as printing bureaus,account bureaus,and ticket numbers,the speed of economic transformation to commercialization has accelerated and expanded.However,due to the lack of government guidance and support,the speed of economic evolution and transformation is still relatively slow,relying solely on the promotion of private capital in a free market economy.At the end of the Qing Dynasty,the rise of the government-led WesternizationMovement played a role in promoting the evolution of Shanxi's economy.Shanxi's economy began to transform into a preliminary industrialization.The development of Shanxi's finance in the late Qing Dynasty was marked by the prosperity of the ticket number.Financial capital promoted the initial development of the industrial revolution in Shanxi,but the impetus was not sufficient,and did not promote the industrial revolution and industrialization.The main reason was financial capital has been freed from the real economy and was not well integrated into production.Even in the heyday of the ticket number,financial capital did not enter the production field more,resulting in insufficient economic and financial support in Shanxi Province.During the Republic of China,Yan Xishan formulated a series of financial development policies,which promoted the transformation of Shanxi's economy into comprehensive industrialization.In the process of Shanxi's economic industrialization transformation,the government-led mandatory financial pilot policy has played a significant role.Through the analysis and research on the three economic transformation and development in Shanxi's history,this paper draws the conclusion that finance plays a leading role in the process of economic development,especially in the process of economic transformation and development.However,financial forerunner are divided into private financial forerunner under the free market economy and financial forerunner of the government,depending on the subject of the leading role.These two financial forerunners have different effects on the economy.In the process of commercial transformation in the Ming and Qing Dynasties and in the process of initial industrial transformation in the late Qing Dynasty,it was private finance to exercise the financial leading function.At that time,the private financial strength was weak,and there was no suitable economic and financial policy environment.The leading role of the economy was not obvious.During the period of the Republic of China,in the process of comprehensive industrial transformation of Shanxi's economy,it was government finance to exercise the financial leading role.Under the leadership of Yan Xishan's vigorous promotion of financial innovation and financial advancement of the economy and financial policies,the effect of finance on economic transformation and development is obvious,and the results are also remarkable.Through a review of history,we find out the important role of financial forerunner in economic transformation and development.The paper concludes that at the criticalmoment when Shanxi's economy is facing another transformation and development,the government must fully utilize the financial pilot strategy to guide private capital to emerging industries and transform Shanxi's economy into a sustainable developement track.