Shanxi is a fairly poor province in current times and is primarily known for its large-scale coal mining; however, in pre-modern times, Shanxi merchants had a reputation for great wealth and were known to conduct commerce even in the nether regions over the Great Wall. Shanxi merchants had an established monopoly on finance for centuries prior to the arrival of the British banks. At the time, they used the system of commercial paper to execute money transfers, deposits, and loans for people using their network of Shanxi merchants across China. Shanxi is also known for having 70 % of China’s surviving historical buildings built during or before the Song Dynasty.
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