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The Glossary
Qing Dynasty's financial center was Pingyao, now a renowned UNESCO World Heritage Site for its well-preserved Old Town and city wall that harbors over 300 unique attractions such as 4,000 Ming and Qing-style residences and ancient ruins. This city in central Shanxi Province used to belong to Jin Kingdom and then to Zhao Kingdom during the Warring States Period. Despite the government's efforts to give China a modern facelift, Pingyao still retains its traditional bagua (octagonal) city layout.
The centerpiece of Pingyao's Heritage Site is the City Walls of Pingyao, constructed in 1370 by Emperor Hongwu, founder of the Ming Dynasty. The walls are laid out like a turtle, with six barbican gates that are arranged like a turtle's legs, head and tail. This made Pingyao earn the nickname "Turtle City." The Walls include a four-meter-long moat, four corner towers, 72 watchtowers, and over 3,000 battlements or defensive structures. Today, the Walls' West Gate is a gaudy marketplace lined with shops selling assortments like lacquer ware.
Inside the City Walls is the Old Town, where bicycles are the primary modes of transport as cars are prohibited in the site. The whole town can also be explored on foot to see its main attractions such as Town Building or Bell Tower, the Former Residence of Lei Lutai, Confucius Temple, and the Courtyard House of Pingyao. On the outskirts are the Zhenguo Temple and the Buddhist Shuanglin Temple, a 6th-century edifice containing over 2,000 ornate clay statues from the 12th to 19th centuries.
As China's financial hub during the Qing Dynasty, over 20 financial institutions were constructed in the city, more than half of what the country had during that time. Among these is the 14th-century Market Tower and Raishengchang, China's first bank.
Every January 15, the whole Old Town is literally painted in red because of the many red lanterns the locals set out in celebration of the Red Lantern Festival. Included in the celebration is the ceremonial eating of yuanxiao or rice ball stuffed with sugar, beans, and other sweets. Yuanxiao symbolizes unity, affection, family reunion, and eternal happiness.
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