Abstract: In the beginning of trade ports opening in old China, trade between China and the West was not conducted directly between Chinese and foreign businessmen, and real transaction parties were foreign businessman and private bank, exchange shop. Because of peculiar social endowment structure of old China, old-style Chinese private bank and exchange shop cooperated with foreign banks while competing with foreign banks, and carried out lending business in old China′s financial markets. Today, with the deepening of China′s market opening, the practice of old China′s financial industry in the beginning of trade ports opening is worth learning. China′s local financial industry needs to carry out international cooperation and competition on the basis of the existing advantages, and it needs to bring the positive results of financial development in the west, to build a unique model suitable for China′s financial development, and find the unique road of financial development of “oriental society” with Crafting Gorge.

Key words: domestic finance, financial dualism, Crafting Gorge