晋商

In the early Ming, Shanxi traders grew rich carrying grain to the armies on the northern frontier in exchange for salt licences, and later traded across China and as far as Mongolia and Russia. In 1823 the 日升昌 in 平遥 became the first 票号, a draft bank that let merchants send money between cities without carrying silver.

Their mansions are now tourist sites, such as the 乔家大院 (Qiao Family Compound), where Zhang Yimou filmed Raise the Red Lantern. They are often paired with the 徽商 of Huizhou in Anhui as the two greatest merchant groups of late imperial China.