Cohong
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The Cohong, sometimes spelled or , a guild of Chinese merchants or hongs, operated the import–export monopoly in Canton (present-day Guangzhou) during the Qing dynasty (16441911). During the century prior to the First Opium War of 1839–1842, trade relations between China and Europe took place exclusively via the Cohong – a system formalised by an imperial edict of the Qianlong Emperor in 1738. The Chinese merchants who made up the Cohong were referred to as (行商) and their foreign counterparts as (洋行，literally "foreign traders").
Key facts
- Chinese.t
- 公行
- Chinese.s
- 公行
- Chinese.p
- gōng háng
- Chinese.y
- gùng hòhng
- Chinese.j
- gung1 hong4
- Chinese.l
- "public trade"
via Wikipedia infobox
~8 min read
Article
7 sectionsContents
- Foundation and structure
- Trade with the West
- ''Consoo'' fund
- Opium trade
- End
- See also
- References
The Cohong, sometimes spelled or , a guild of Chinese merchants or hongs, operated the import–export monopoly in Canton (present-day Guangzhou) during the Qing dynasty (16441911). During the century prior to the First Opium War of 1839–1842, trade relations between China and Europe took place exclusively via the Cohong – a system formalised by an imperial edict of the Qianlong Emperor in 1738. The Chinese merchants who made up the Cohong were referred to as (行商) and their foreign counterparts as (洋行，literally "foreign traders").
==Foundation and structure== In 1738, the Baoshang system was established. This system granted a number of Chinese merchants license to trade with Western merchants as long as they helped to collect duties from the Westerners, successfully aligning trading interests with the government's revenue collection. This was the predecessor for the later Cohong system.