This article undertakes a theoretical inquiry into the historical origins of financial culture with Chinese characteristics, focusing specifically on the financial genes embedded within the rich historical and cultural heritage of Shaanxi Province. As the heartland of ancient Chinese civilization and the cradle of the Zhou, Qin, Han, and Tang dynasties, Shaanxi offers a unique vantage point for understanding how foundational financial concepts, practices, institutions, and ethical norms were conceived, evolved, and transmitted across millennia. Moving beyond conventional analyses that view financial development primarily through a modern, Western-centric lens, this study argues that contemporary Chinese financial culture is deeply rooted in historical path dependencies, institutional legacies, and philosophical traditions that can be traced to this region. The article develops a theoretical framework integrating historical institutionalism, cultural economics, and evolutionary economic geography to analyze the emergence and transmission of financial genes across four key dimensions: (1) The ethical foundations of credit and trust, originating in Zhou-era ritual governance and contractual practices. (2) The institutionalization of state-led financial governance, pioneered by Qin’s standardization and centralized control. (3) The development of market-based financial instruments and commercial networks, flourishing under Han and Tang commercial expansion. (4) The philosophical synthesis of frugality, risk management, and sustainable wealth creation, embodied in the region’s mercantile traditions. The analysis pays particular attention to how these historical genes have been transmitted through institutional path dependence, cultural-cognitive mechanisms, and the reinterpretation of tradition in response to modern challenges. The article concludes by drawing theoretical implications for understanding the distinctiveness of Chinese financial development and practical insights for cultivating financial culture in contemporary China’s quest for high-quality development and financial modernization. This research contributes to the emerging literature on comparative financial history, cultural foundations of economic development, and the historical roots of institutional diversity in global finance.
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Li, G., Liu, L. (2025) The Historical Origins of Financial Culture with Chinese Characteristics: A Theoretical Inquiry into the Financial Genes Embedded in Shaanxi’s Historical and Cultural Heritage. Journal of Social Development and History, 1(6), 97-106.