Shanxi

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Pingyao

Financial centre of the Ming and Qing Dynasties

This is how we see the ancient town of Pingyao on TV: elegant buildings enclosed by imposing high walls with grey bricks and tiles, simple and poetic in white snow. As you step into this ancient town, get ready to be carried away by the profundity of time and history.

Initially built during the reign of King Xuan of the Western Zhou dynasty (827-782 BC), when General Yin Jifu stationed his army here, Pingyao is an ancient town of rich cultural legacy with a history of over 2800 years. Having weathered the vicissitudes of time, Pingyao remains intact as the best-preserved example of ancient towns of the Ming and Qing dynasties in China. Pingyao as we it see today looks much the same as when it was expanded in 1370 - the third year of Emperor Hongwu of the Ming dynasty - with streets, yamun (government offices in ancient China), shops, and residential compounds, all maintaining the original architectural features of the Ming dynasty.

At the centre of Pingyao is a city wall of brick and stone that was built when King Xuan of the Western Zhou dynasty ruled and expanded during the reign of Emperor Hongwu of the Ming dynasty. The city wall, square in shape, measures 33 ft (10m) high and 20,200 ft (6157m) long. Paved with brick and stone, it allows two carriages to run side by side. Defensive structures on the wall include watchtowers, battlements, and so on. Legend has it that the three thousand battlements and 72 towers represent the 3000 disciples and 72 men of virtue who were the early followers of Confucius. Enclosed lookout towers were built symmetrically, with two on each side of the East and West Gates of the city wall. On the south-eastern part of the city wall, there stands the Kuixing Tower, a small but tall and graceful octagonal building 79 ft (24m) high covered with a roof of coloured glaze. The ancient city boasts a number of historical buildings, such as the Great Hall of Zhengguo Temple, an ancient structure built of wood in the period of the Five dynasties, and the Dacheng Hall of the Wenmiao Temple – built in the Jin dynasty. Apart from a host of historical and cultural relics, Pingyao also boasts several courtyard residences, another unique feature of this ancient town. Most of the 3797 traditional courtyard residences that have been well preserved to date are still in use, encapsulating a prosperous Pingyao at its prime time in history.

What makes Pingyao more extraordinary is its role as a financial centre in ancient China. During the Qing dynasty, Pingyao was known as Little Beijing (Beijing in miniature). A large number of banks of considerable size were opened along the West Street of Pingyao, which was widely acknowledged as the most important financial street of the Qing dynasty. The eight banks, led by the Ri Sheng Chang Money Exchange, expanded their banking businesses to 45 residential cities. Among them, Ri Sheng Chang, the provincial forerunner of banks of all types, was capable of handling financial business worth 1 million to 38 million liang (a traditional Chinese unit of money) annually. Its business, as well as its fame, expanded to the rest of the world, as evidenced by its presence in San Francisco and New York in the United States. A glimpse into the courtyards where those banks used to be will leave visitors overwhelmed with wonder, with roofs and high walls in multiple layers. Banknotes of various types and in different colours are on exhibition. This is the place where the professional and networked mechanism of money exchange in ancient China gradually took shape, replacing the burden some transportation of silver. Right on this "Wall Street" - not as well known as its counterpart in the United States - banks like RiSheng Chang and Bai Chuan Hui were busy handling savings and granting loans to boost commercial exchange.

The ancient town of Pingyao was admitted to the World Cultural Heritage List by UNESCO in 1997.

Location

Pingyao is located 56 miles (90km) south of Taiyuan in Shanxi province.

Climate

Typical of the continental monsoon climate with a cold and dry winter, in which there is a great temperature fluctuation. The area has a rainy summer and a short spring and fall.

Of Special Interest

Pingyao is considered the best preserved prototype of an ancient town of the Ming and Qing dynasties.

Main Attractions

Ancient city wall, courtyard residences, Ri Sheng Chang, South Avenue in the ancient town, and Dacheng Hall of the Wenmiao Temple.

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