;There was only half a century for Nanbangpiaohao (NBPH), banking system in Qing Dynasty (QD), from its development, prosperity to declination. Late Qing Bureaucracy (LQB) spoke for the reason to its prosperity. However, the heavy involvements of officialdom caused its declination. Consequently, the system was caught in great risk of bankruptcy due to a run on the bank mainly caused by the officialdom.
The research includes five chapters, introduction, main body, and conclusion: The first chapter relates immense changes in terms of international trade between foreign countries and QD. The changes were resulted from the Opium War and Anglo-French Alliance. Five major seaports were forced to be opened to foreign trade. During LQD, there were unceasing foreign invasion and internal disarray in China. Immense military expenditure forced Qing Government to face serious financial distress. In order to increase governmental income, the bankers with great fortune became a flattery object to the government officials. The circumstance formed the advantageous fortune to the bankers developing their business. The second chapter is a case study about the founder of NBPH, Hu Guang-yong（胡光墉）. The interaction between Hu Guang-yong and Zuo Zong-teng（左宗棠）and the bond among bankers from NBPH, LQD, and Qing finance are major research objects. Through Hu’s case, the research analyzes how the government built the collaboration tie with the bankers under the situation of distressed finance turmoil. Meanwhile the research also investigates how Hu used his special status, an official for Qing government and a NBPH owner to borrow foreign loan for his nation, and made a huge sum of brokerage from the process. The third chapter explores the following aspects: the impact of Hu's declination to Qing officials , the economics in Shanghai（上海）and the crisis that the NBPH bankers was facing. Due to Hu’s investment defeat on skill trading, and a run on bank caused by malevolence withdrawing deposits from some powerful courtiers. Consequently, Hu’s enterprise corrupted because Hu’s NBPHs and other private banks could not manage a huge financial gap caused by the malevolence.
This research takes Hu’s case analyzing frequent interaction between witty NBPH bankers and Qing officialdom. Once their political interests are opposed, the political opponents would jostle against one another. The result shows that intimacy interaction and involvement between two sides was the major reason for rapid declination to NBPH.