A Study of Suzhou as the Economic Center of China during the Ming and Qing Dynasties

As the biggest tax payer in China during the Ming and Qing dynasties, Suzhou was the most prominent center to provide tax, money and grain for the country. It was known for its commodity production of silk, cotton, and printed materials. Suzhou’s wood manufacturing and processing industry were also unrivaled. Meanwhile, Suzhou was famous for jade carvings, embroidery, mounting, lacquer, musical instruments and other processing industries of copper, iron, gold, silver, etc. As a world-famous center of commodity production and processing, Suzhou exported the local commodities and imported various kinds of raw materials. Suzhou was also a transportation center in China, transporting goods and materials across the country and balancing the market. Financial institutions such as banks and exchange shops were established in Suzhou as well, where the circulation of silver and copper coins was voluminous and the use of foreign silver coins started early. With advanced financial settlement methods, Suzhou absorbed the capital from towns and cities nearby, profited from high cash turnover, and became a highly developed financial center. As far as the economic aggregate, commodity production and circulation were concerned, Suzhou was a far more advanced urban center than Hangzhou which was another industrial and financial city.