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

1. Reasons for traditional thinking: Banks and enterprises in the Ming and Qing Dynasties were usually established by relatives, friends, fellow villagers and peers, or even shareholders withdrew, and their shares could only be transferred to the above-mentioned personnel. The business of the ticket number is also open to the above-mentioned personnel.

Moreover, practitioners do not regard the ticket number as a family business that can be passed on to future generations. Many practitioners turn off the ticket number and go back to their hometown to support the elderly when they are old. This short-sighted operation greatly restricted the scale and profit of banks and affected the development of China's ancient financial industry.

Second, the business environment: the financial industry and industry are interdependent, the development of industry and commerce is blocked, and the financial industry naturally declines. Although the handicraft industry and commerce in China developed rapidly from the Ming Dynasty to the early Qing Dynasty, the economic development in the middle and late Qing Dynasty was severely impacted by social unrest.

Extended data:

After all, banks appear for the following reasons:

The emergence and development of banks are related to the development of monetary commodity economy, and the currency exchange industry in pre-capitalist society is the basis for the formation of banking industry. At first, the money exchange industry only engaged in coin exchange business, and later kept money and collected cash on behalf of businessmen.

In this way, exchange merchants gradually gathered a large amount of monetary funds. When money changers engage in lending business, money changers become banks.

The earliest banking industry originated from the currency exchange industry in ancient western Europe. At first, money changers only exchanged money for merchants. Later, they developed to keep money for merchants, receive and pay cash, and settle remittances, but they did not pay interest and charged storage fees and handling fees. With the development of industry and commerce, the business of money changers has further developed, and they have gathered a large amount of money.