Feiqian brand

Where did feiqian come from?

Other articles where feiqian is discussed: China: The Shiguo (Ten Kingdoms): …drafts for transmitting funds called feiqian (“flying money”). Somewhat later the private assay shops in Sichuan began to issue certificates of deposit to merchants who had left valuables at the shops for safekeeping.

What is feiqian money?

It was part of a global system known as feiqian, or “flying money,” that for centuries has helped conceal the movement of items such as minerals, wildlife parts and timber.

How does feiqian work?

Feiqian uses the same type of trust-based, off-the-books payments but can be much more complex. In the feiqian system, goods are imported with the help of a Chinese broker and declared at a small fraction of their true value. These goods, often building supplies, then are sold to generate currency.

Is feiqian a phantom?

But feiqian is difficult to police. Namibian journalist John Grobler spent a year investigating it and found that tracing the money is like chasing a phantom. The trick is that most of the currency never leaves China — only the commodities are exchanged.

What are some examples of feiqian?

One vivid example of feiqian is the multimillion-dollar illicit abalone trade in South Africa. The sea snails are considered a delicacy and prized by Chinese diners for their buttery taste.

Why is flying cash called a feiqian?

Flying cash (Chinese: ), or Feiqian, was a type of paper negotiable instrument used during China's Song dynasty invented by merchants but adopted by the state. Its name came from their ability to transfer cash across vast distances without physically transporting it. It is a precursor to true banknotes which appeared during the Song dynasty.