Before the Northern Song Dynasty, all the loan coins in circulation in the past dynasties were "coins," ranging from shells, iron coins, copper coins to silver. In the middle of the Northern Song Dynasty, when the commodity economy was booming, paper money issued by merchants first appeared in Sichuan for ease of carrying, called "Jiaozi". This is the earliest paper currency in the world. Jiaozi can be circulated in the market and exchanged for money and silver, making it very convenient to use.

In 1023, the northern government established "Jiaozi" in Yizhou, and began to issue Jiaozi by the government, with iron money as a reserve fund.

In 1105, the government issued a "new banknote" to replace Jiaozi.

On March 11, 1161 (February 13, the 31st year of Shaoxing, Song Dynasty, it has been {sys: (year (now) -1161) } years since the Southern Song Dynasty government issued the banknote "Huizi" based on copper coins. The denominations of the banknotes are divided into three types: Yiguan, Erguan, and Sanbei. Later, there are three types: Erbo Wen, Sanbo Wen, and Wubo Wen, which are passed through all parts of the southeast. The "Huizi" patterns of different denominations are also different, and they are printed with the name of the issuing authority, the face value, and the number of realms (changed every three years, for one realm). The ticket face is also printed with a reward for catching counterfeiters and using counterfeit money. The government also stipulates that those who catch "counterfeiting Huizi" can be granted an official position if they do not want to receive the reward.

Southern Song Dynasty Huizi

[Huizi] a kind of banknote in the Southern Song Dynasty of China. At first, it was a money meeting, that is, a bill of exchange, a check and the like.