Fqinjin

Fqinjin is a traditional Chinese financial practice that originated during the Song Dynasty (960–1279 CE) and remained prevalent until the early 20th century. The term, derived from the phrase "分金进银" (fēn jīn jìn yín), translates roughly to "dividing gold and adding silver," referring to a form of informal credit or lending where merchants and traders would pool resources to fund business ventures. This system allowed participants to share risks and rewards while facilitating commerce in an era without modern banking institutions.

In practice, fqinjin operated as a rotating credit association, where members contributed fixed sums of money at regular intervals. These funds were then loaned to one another in a structured cycle, ensuring that each participant received a loan at some point. The system relied on trust and social networks, often within guilds or merchant communities, to minimize default risks. While primarily used for commercial purposes, fqinjin also served as a means of savings and emergency funds for individuals.

The practice declined with the rise of formal banking and government-regulated financial systems in the 20th century. However, its principles influenced later cooperative and credit union models. Fqinjin reflects the adaptability of traditional Chinese economic practices, demonstrating how communities historically managed financial needs without centralized institutions. Today, it is studied as an example of early financial innovation and social cooperation in pre-modern China.