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Jiaozi (Chinese: 交子) was a form of promissory note which appeared around the 11th century in the Sichuan capital of Chengdu, China. Numismatists regard it as the first paper money in history, a development of the Chinese Song Dynasty (960–1279 CE).
After printing was popularized during the Song dynasty the demand for paper grew substantially. The supply of bark could not keep up with the demand for paper, resulting in the invention of new kinds of paper using bamboo during the Song dynasty. [19] In the year 1101, 1.5 million sheets of paper were sent to the capital. [17]
Cai's improvements to paper-making are considered to have had an enormous impact on human history, and of those who created China's Four Great Inventions—the compass, gunpowder, papermaking and printing—Cai is the only inventor whose name is known.
It has the highest amount of issuance among various banknote types during the Song dynasty. Huizi notes came on three-colour printed paper and their usage was heavily promoted by the government of the Southern Song dynasty, the Huizi were backed by 280,000 guàn of copper cash coins.
A fragment of a dharani print in Sanskrit and Chinese, c. 650–670, Tang dynasty The Great Dharani Sutra, one of the world's oldest surviving woodblock prints, c. 704-751 The intricate frontispiece of the Diamond Sutra from Tang-dynasty China, 868 AD (British Museum), the earliest extant printed text bearing a date of printing Colophon to the Diamond Sutra dating the year of printing to 868
During the Song dynasty, independent and government sponsored industries were developed to meet the needs of a growing population that had reached over 100 million. For example, for the printing of paper money alone, the Song court established several government-run mints and factories in the cities of Huizhou, Chengdu, Hangzhou, and Anqi. [43]
Xuan paper, Shuen paper, or rice paper, is a kind of paper originating in ancient China used for writing and painting. Xuan paper is renowned for being soft and fine-textured, suitable for conveying the artistic expression of both Chinese calligraphy and painting .
Jiaozi, the world's first paper-printed currency, an innovation of the Song era (960–1279).. Foreign counting houses called guifang sprang up during the height of the Tang dynasty in China in the 600s, where merchants could deposit funds for protection and could draft checks third parties could cash for those deposits.