Why didn't the ancient financial institutions in China develop into modern banks?

China's currency history has a long history, from the initial shells to copper coins to gold and silver, which has gone through a long history of more than 5,000 years. It can be said that since the appearance of shell currency, the economic system of ancient society has been continuously improved with the replacement of dynasties. And eventually developed into an economic system with China characteristics.

Due to the slow speed of information transmission in ancient society, it is more convenient to use paper money except for citizens living in cities. Some people living in remote areas still use copper or silver in their daily life. Because of the low reserves in ancient society, gold rarely became a currency in circulation.

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Credit management is an important management work of commercial banks. The content mainly includes the organizational structure of credit business management, credit business strategy and policy, and credit products. There are both theories and examples, both building a framework and going deep into details, which can be said to be comprehensive and thorough.

International business mainly refers to international settlement, which is a subject that studies the settlement of creditor's rights and debts between parties in different countries due to various exchanges through banks, including remittance, collection, letter of credit, letter of guarantee and so on.

Baidu Encyclopedia-China Ancient Finance

People's Daily Online-The Inherent Characteristics of Modern Banking System Changes in China: the crystallization of the grafting of tradition and modernity.