For hundreds of years, silver has been the main monetary material in China, while gold is precious and scarce, mainly used as decorations and wealth storage, and rarely circulated. Silver is mainly used in daily transactions, deposits and loans. Because "silver" is a common currency and merchants are also called "banks", it is called "banks".
China first used the word "bank" in the New Chapter of Ministers (1895) written by Hong Rengan during the Taiping Heavenly Kingdom. According to some data, the word "bank" existed in China in ancient times, which began in the Tang Dynasty (AD 6 18-907). In 845 AD, a "gold and silver shop" appeared in Suzhou. Cai Xiang, a calligrapher in the Northern Song Dynasty, said in the article "Sixteen Things to Teach the People" that "many people can sue and arrest banks if they want to make money." ...
In the middle of Ming Dynasty, banks were formed in China, and appeared in Qing Dynasty. The first domestic bank to use the bank name was "China Commercial Bank", which was established on May 27th. 1897. The earliest national bank was "Hubu Bank" founded by 1905, later called "Daqing Bank". After the Revolution of 1911, Daqing Bank was reorganized.