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The economy of the Song dynasty (960–1279) has been characterized as the most prosperous in the world at the time. [1] The dynasty moved away from the top-down command economy of the Tang dynasty (618–907) and made extensive use of market mechanisms as national income grew to be around three times that of 12th century Europe. [ 2 ]
During the Song dynasty, the merchant class became more sophisticated, well-respected, and organised. The accumulated wealth of the merchant class often rivalled that of the scholar-officials who administered the affairs of government. For their organisational skills, Ebrey, Walthall, and Palais state that Song dynasty merchants:
The Song dynasty was the first in world history to issue banknotes or true paper money and the first Chinese government to establish a permanent standing navy. This dynasty saw the first surviving records of the chemical formula for gunpowder, the invention of gunpowder weapons such as fire arrows, bombs, and the fire lance.
The economic history of China is covered in the following articles: Economic history of China before 1912, the economic history of China during the ancient China and imperial China, before the establishment of the Republic of China in 1912. Economy of the Han dynasty (202 BC – AD 220) Economy of the Song dynasty (960–1279)
Part of a series on the History of China Timeline Dynasties Historiography Prehistoric Paleolithic Neolithic (c. 8500 – c. 2000 BCE) Yellow, Yangtze, and Liao civilization Ancient Xia (c. 2070 – c. 1600 BCE) Shang (c. 1600 – c. 1046 BCE) Late Shang (c. 1250 – c. 1046 BCE) Zhou (c. 1046 – c. 256 BCE) Western Zhou (1046–771 BCE) Eastern Zhou (771–256 BCE) Spring and Autumn (c. 770 ...
Although navies had been used in China since the ancient Spring and Autumn period (722–481 BC), [217] China's first permanent standing navy was established by the Southern Song in 1132. [216] The Jurchen launched an invasion against the Southern Song along the length of the Yangtze River , which resulted in two crucial Song victories at the ...
Government statistics show that in 1034, 80 percent of the Song dynasty's population consisted of rural households. However because the state had given up ownership and distribution of land in the villages and deregulated the markets, the 11th century rural and urban economy saw a great deal of commercialization, privatization of land, and urbanization.
The History of Song with its 496 chapters is the largest of the Twenty-Four Histories. [2] It contains 47 chapters of Imperial biographies, 162 chapters covering Song dynasty records (誌; 志; Zhì), 32 chapters of tables (showing genealogy, etc.) and 255 chapters of historical biographies.