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Song Jiaozi Paper Money

Type Object Region China Time 1001–1300

Jiaozi, one of the world's earliest official paper currencies, originated as private commercial credit notes in Sichuan during the Song dynasty and l…

Timeline

  1. c. 1000–1023Chengdu Prefecture · SichuanIron coins in Sichuan were cumbersome; large merchant houses used 'jiaozi' as vouchers, with customers depositing iron coins at shops in exchange for transferable paper certificates, forming private credit notes that laid practical groundwork for official paper money.
  2. 1023Yizhou (Chengdu) · SichuanThe Northern Song court established the Yizhou Jiaozi Bureau, bringing jiaozi issuance under state control, printing a uniform design and stipulating reserves and redemption rules, marking the transition of paper money from private credit to state currency management.
  3. 1160–1300Lin'an (Hangzhou) · JiangnanAfter establishing its capital at Lin'an, the Southern Song promoted paper notes such as huizi and jiaozi, used alongside copper coins to support military pay and trade. Around 1211 paper money circulated widely in Jiangnan and along the Huai River, becoming a core payment medium for finance and long-distance trade.

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