Rishengchang Draft Bank
Experience the legend of the Shanxi merchants. Founded in the Daoguang era of the Qing dynasty, Rishengchang was China’s first and also largest draft bank (piaohao) handling remittance business.…
Rishengchang Draft Bank, Pingyao · AI illustration for China Trip
Key facts
- Admission
- Included in the Pingyao Ancient Town combined ticket
- Time needed
- 1–1.5 hours
- Address
- 38 West Street (西大街)
- Guidebook rating
- 5 / 5
From China Self Guided Travel 2025, page 1805. Open in Google Maps
About Rishengchang Draft Bank
Experience the legend of the Shanxi merchants. Founded in the Daoguang era of the Qing dynasty, Rishengchang was China’s first and also largest draft bank (piaohao) handling remittance business. At its peak, Rishengchang had branches in 35 cities large and small across the country, with annual remittance volumes ranging from 1 million to 38 million taels of silver.
Today, Rishengchang is also known as the China Draft Bank Museum. It has more than 20 exhibition halls, broadly divided into a historical display section and a section recreating the original layout, which together trace the development of China’s national banking industry.
Tips from the guidebook
- Must-see spots at the draft bank
- 1. On the wall behind the “counter,” you will find the rhyming verses created by Rishengchang in its day. They form a cipher used to exchange drafts, with the date, location, amount and other details hidden within. Thanks to this code, Rishengchang has made no errors in more than 100 years.
- 2. Beneath the coal ash in the stove next to the heated kang bed in the “reception room” lies the entrance to Rishengchang’s regular strongroom. Such strongrooms typically held several hundred thousand to several million taels of silver in reserve.
Frequently asked questions
How much does Rishengchang Draft Bank cost?
Admission to Rishengchang Draft Bank is Included in the Pingyao Ancient Town combined ticket, as listed in the 2025 guidebook. Prices can change; check the official channel before you go.
How long should I spend at Rishengchang Draft Bank?
Plan on 1–1.5 hours for Rishengchang Draft Bank.
Where is Rishengchang Draft Bank?
Rishengchang Draft Bank is in Pingyao, Shanxi Province, in the North China of China. 38 West Street (西大街)
More places in Pingyao
Pingyao Ancient City Wall
The Pingyao Ancient City Wall is one of the few complete ancient county-level city walls still standing in China. The earliest rammed-earth walls are said to have been built by Yin Jifu, a great general of the Western Zhou dynasty. During the Hongwu era of the Ming dynasty, the wall was expanded on the old foundation into the brick-and-stone structure seen today. The city’s overall layout is shaped like a tortoise, giving rise to the saying “the tortoise plays in the water, mountains face the sun,” which is why Pingyao is also commonly called “Tortoise City.” The old town has six gates, each with its own symbolism: the South Gate is the tortoise’s head, facing the Zhongdu River; outside the city there were originally two wells, likened to the tortoise’s eyes; the North Gate is the tortoise’s tail and the lowest point of the town, so all the city’s rainwater drains out through it; the four gates and barbicans in the east and west are like the tortoise’s paws stretched forward. Only the outer gate of the barbican at the East Lower Gate opens straight to the east. Legend has it that the builders feared the tortoise would crawl away, so they straightened its left leg and tied it to the Lutai Pagoda in Cisi Temple outside the city. The city wall is said to have 3,000 crenellations and 72 small watchtowers, symbolizing Confucius’s 3,000 disciples and 72 sages, so that this bustling commercial city would never lack literary refinement.
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