Jiefang North Road: The Past and Present

2019-02-16

It was a concession area years ago and is a gathering place of various exotic building; it is a bustling and mysterious street recording the process of historical development; it is the calm and solemn Jiefang North Road that has been baptized through the vicissitude.

There is a street in Tianjin worth visiting. It is Jiefang North Road, the financial street close to Haihe River, from Jiefang Bridge in the northwest to Xuzhou Street in the south. In modern history of China, Jiefang North Road was the gathering place of foreign banks, called "Oriental Wall Street". Nowadays, it is still one of the gathering places of financing institutions in Tianjin. Dozens of historical style architectures are well retained here, most of them are century years old. The name of Jiefang North Road can be called as a history that French called it Rue de France, British called it Victoria Road, and it was called called as "Center Street" because it ran through the former British Settlement and French Concession, located in the center area of these two settlements. In 1880 (Guangxu 6th Year of Qing Dynasty), HSBC UK first came to Tianjin planning to set up institution. Then it was opened in 1882 (Guangxu 8th Year) to be to first foreign bank in Tianjin. On it's heels, France, Germany, Italy, Japan and Russia soon opened Russo-Chinese Bank, Standard Chartered Bank, Special Bank and Industrial and Commercial Bank of China-France,Tianjin Branch, etc.

From late 19th century to early 20th century, over ten foreign banks were set on Center Street of British and French Settlements, because of which, some larger foreign firms and insurance companies tried to develop business than others. In the late Qing Dynasty and the early Republic of China, Chinese new style banks rose gradually and gathered here. Before 1937, the street had became the famous financial center in northern China. Although the current Jiefang North Road is not as bustling as the concession period, it is still grand and colemn, integrating the prosperity of modern civilization. Since the foundation of new China, Center Street has been changed to Jiefang Road. Because of the unified management of government to financial industry, most banks, gold stores, stock exchanges were canceled, only retaining several banks like People's Bank of China, Tianjin Branch and Industrial and Commercial Bank of China, Tianjin Branch, etc.

Time never stops but some remarks don't, such as these grand buildings or those mottled marble textures. We see how bustling the street was in the history through them and they are witnessing and will witness the rebirth of Jiefang North Road.

Article by Zhao Xiaoyu

Tianjin Tourism