An early Chinese banking institution was called the piaohao, also known as Shanxi banks because they were owned primarily by natives of Shanxi. To deal with the transfer of large amounts of cash from one branch to another, the company introduced drafts, cashable in the company's many branches around China.
Wang Maoshe, municipal party secretary of Shuozhou City in Shanxi Province, talks about how this city puts forth a coal-based and diversified development pattern.
