Silver-Copper Coin Currency Ratio and Price Fluctuations in the Early and Mid-Qing Dynasty : Focusing on the Qianlong Period

The influx of foreign silver during the early and mid-Qing period directly influenced the development of commodity economics and economic fluctuations. Furthermore, the fact that foreign silver directly circulated in China’s inland regions and that Chinese foreign trade merchants established exchange rates between foreign silver and Chinese Wen silver signified that China was deeply integrated into the global silver-based monetary circulation network of that time. The purpose of large-scale currency minting during the Qianlong period was clear. It aimed to promote people’s livelihood stability by increasing the supply of currency notes based on the massive foreign silver obtained from international trade, thereby maintaining the balance between silver and copper coins and ensuring the smooth operation of the silver-copper coin dual system. The inflation caused by foreign silver influx during the Qianlong period is the most significant characteristic of early and mid-Qing economic history. It is particularly meaningful because it demonstrates a novel socio-economic landscape rarely found in other traditional societies.