The paper money in China flourished during the period of the Yuan Dynasty domination. During the time of the Yuan paper money was widely used in China, the monetary system of which was perfectly developed. After the Yuan Dynasty issued its paper notes, the neighbors, including Japan, India and Korea followed the same path and started issuing their own paper money.
During the same period, the Chinese mints continued striking coins, which were of different weight and quality if compared to the coins minted during the Song Dynasty. The term "yuan bao" was for the first time used during the Yuan Dynasty. The name yuan bao has the meaning of "treasure of the Yuan". It was afterwards used to describe money made of gold and silver. Despite the fact that gold and silver ingots were taken out of circulation, their imitations could still be spotted.
Paper money was also issued during the period of the Ming Dynasty. This money was called Da Ming Tong Xing Bao Chao. It was the only paper currency used throughout the entire Ming Dynasty - an exceptional event, since not one dynasty before the Ming has done this. It is believed that Da Ming Tong Xing Bao Chao was the world's largest paper money, measuring 34 cm long and 22 cm wide.
After the period of paper money depreciation began, Chinese government decided to strike coins again. A great development of mintage technique was registered during the rule of Jia Jing by Emperor Shi Zong of Ming Dynasty. It is worth mentioning that prior to the new technique of minting coins, these were made of bronze. The new coins were struck from an alloy that also included zinc and brass.
During the early years of the Qing Dynasty, the government did not print any paper money until 1651, when Chinese paper money were issued once again, but not for long. It lasted only a decade. In order to handle the crisis that occurred after the Opium War (a battle that started in 1839 and through 1842 between the British East India Company and the Qing Dynasty) the Qing Dynasty in 1853 began printing paper money again.
At the end of the 19th century, China faced a flow of representatives from foreign imperialist countries, who established banks in the country and started printing paper money. In 1908 the Qing Dynasty built a mint in Beijing and struck the first steel money template. There were almost no paper notes issued by the Qing Dynasty and later the dynasty sawn its fall.
