About Rishengchang Draft House
Rishengchang Draft House, founded in 1823 in Pingyao, was China's first draft bank (piaohao) — a financial institution that pioneered the system of bank drafts, allowing merchants to deposit money in one city and withdraw it in another without carrying silver across dangerous roads. At its peak, Rishengchang had branches in over 30 cities across China and controlled a significant portion of the nation's financial transactions.
The building itself is a traditional Shanxi merchant's compound, with courtyards, halls, and secure vaults. Visitors can see the original counters where transactions were conducted, the vaults where silver was stored, and exhibits explaining the sophisticated financial system that operated centuries before modern banking. Rishengchang's success made Pingyao the financial center of 19th-century China, and the building is now a museum preserving this remarkable chapter of Chinese economic history.
What Not to Miss
The original counters — where merchants exchanged drafts for silver.
The vaults — secure underground rooms where silver was stored.
The financial exhibits — explaining how the draft system worked.
