It was during the Ming and Qing Dynasties that Shanxi merchants reached their period of great prosperity. Their footsteps not only covered China but reached Japan, Southeast Asia, Arabia and Europe. Their business interests ranged from salt, iron, cotton, silk and tea to various financial endeavors, including pawnshops, private banks and account bureaux.
Once in feudal China there was a splendid period for business, though on the whole business was not very well developed in China. This period was critical for economic and cultural development in ancient China. Shanxi merchants, taking up the dominant position in the business sector, could be regarded as the leader of this period. The merchants' diverse commodities, investment amount, and staff size were all at the top among all the business groups at that time.      
For centuries Shanxi was a center of trade and banking, and the term "Shanxi merchant" was once synonymous with wealth; the well-preserved city of Pingyao, in Shanxi Province, also shows many signs of its former dominance as a center of trade and banking. The term "Jinshang" is a tribute given to these Shanxi merchants for their achievements in building China's commercial culture. Although they lived in closed residences, their sense of business possibility was not restricted.
History
Earliest Merchants
Shanxi enjoyed a long history of business investment. Even before the Qin Dynasty (221-206BC), the business trade had already emerged in the southern part of Shanxi. Early in the Spring and Autumn Period (770 - 476 BC), China was still an agricultural society with an undeveloped commodity economy. Salt, at that time, was a necessity in people's daily life. Moreover, it was the most important commodity. In virtue of the abundant salt produced in Shanxi Province, the earliest Shanxi merchants arrived on the historical stage.
Prosperity
However, it was during the Ming (1368-1644) and Qing(1644-1911) Dynasties that the Jinshang reached their period of great prosperity. Shanxi merchants took advantage of a very critical chance in the history, the emergence of a unified market in China during the Ming and Qing dynasties, which allowed them to travel all around China. Their footsteps not only covered China but reached Japan, Southeast Asia, Arabia and Europe. Their business interests ranged from salt, iron, cotton, silk and tea to various financial endeavors, including pawnshops, private banks and account bureaux. Shanxi merchants controlled several industries, such as all of the financial industry and part of the pigment industry. At that time their status was quite high as merchants.
Honesty
In a society deficient in efficient commercial regulations, it was not easy for just a few people to achieve great success in their business. What held Shanxi merchants together and made them a strong force was their common adoration of Guan Yu, a respected general of the State Shu in the Three Kingdoms period (220 - 280 AD). They adored Guan Yu not simply for his military talents but for his loyalty and honesty, which were two crucial virtues for doing business.
Decline
Until the late Qing Dynasty Shanxi merchants still monopolized a number of commercial activities in China. For instance, it was through the development of trade between China and Russia that Kyakhta near the Russian-Mongolian border grew up into a thriving commercial city.
And this trade was for a long time monopolized by Shanxi merchants. However, this strong commercial group approached the end of its days just as China entered the modern era.
On their way to success, most Jinshang dared to go forth from their closed residences, traveling from one place to another to expand their business. But when their wealth had been accumulated, they would rather maintain what they inherited from their predecessors than restart new business. They seldom invested their money in modern industry. Much of their money was buried in the ground or used to build luxurious residences.
During the War of Resistance against Japan (1937 - 1945), a great deal of silver was found buried on Qiao family property by the Japanese army. China's traditional culture greatly influenced the merchants' ways of dealing with wealth. In the traditional culture, merchants were placed at the bottom of the whole social body. Any conception related to profit was discriminated against by the common social ethics, which hindered the further development of these merchants.
Today
Today, the luxurious residences left by the Jinshang have become attractive tourist sites. Surrounded by strong brick walls, most of the rooms in these mansions have no windows. This kind of closed architecture is very suggestive of a closed psychology, perhaps providing additional clues as to why this once dynamic social group finally disappeared from the historical stage.

Popularity
In ancient time, stores opened by Shanxi merchants could be found in Moscow and Petersburg in Russia, North Korea and Japan.
Sparrows and Merchants
Where there are sparrows, there are Shanxi Merchants. Shanxi merchants emerge everywhere in China.
Merchant in the Blood
It is still said by most of the people that Shanxi merchants are born good at trading and financial management.
The Jinshang refers to merchants from Shanxi prvince. The Jinshang created the very first bank in China.