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Centers of Progress: Hangzhou (Paper Money)

Hangzhou in 12th century CE China

Hangzhou in 12th century CE China
  • During the late Song Dynasty, with the innovation of printing and manufacturing, the Song came closer to initiating an industrial revolution than any other premodern state.
  • The Song empire became the richest on Earth through trade and industry. The capital, Hangzhou, was the wealthiest and most populous city in the world.
  • Song-era China became the first country to print paper money. It was easier to carry in large amounts than metal coins. Hangzhou served as the center of money-printing.

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