Pingyao, officially Pingyao Ancient City, is a walled city in central Shanxi, China, famed for its importance in Chinese economic history and for its well-preserved Ming and Qing urban planning and architecture. Administratively, it comprises the town of Gutao in Pingyao County, Jinzhong. It has a population of about 500,000. The town is first recorded BC and has been the seat of local government since at least the Qin. By the 16th century, it was a regional financial hub; some consider it to have been the financial centre of the Qing Empire in the late 19th century. It is a AAAAA-rated tourist attraction, and the settlement and the outlying Zhenguo Temple and Shuanglin Temple became a World Heritage Site in 1997. History There was already a settlement in place at Pingyao by the reign of the Xuan King (.BC), when the Zhou raised earthen ramparts around the site. In the Spring and Autumn period, the county belonged to the kingdom of Jin. It was part of the kingdom of Zhao in the Warring States period. Under the Qin, it was known as Pingtao. During the Han Dynasty, it was known as the seat of Zhongdu County. Pingyao served as the financial center of the region from the 16th century and of the entire Qing Empire during the late 19th century. During those times, there were more than 20 financial institutions within the city, comprising more than half of the total in the whole country. Rishengchang was the first and largest, controlling almost half of China's silver trade under the late Qing before going bankrupt in 1914 in the aftermath of the Xinhai Revolution. Organized restorations have been undertaken periodically since the 15th century, the most recent phase beginning in 1979. In 1986, China designated Pingyao as one of the Chinese Historical and Cultural Cities. In 2004, part of the southern walls collapsed; they have since been reconstructed. In 2015, Pingyao ancient city became a national 5A-class tourist attraction. Geography Pingyao is located on the east bank of the Fen River near the southwestern edge of the Taiyuan Basin. It is approximately south of central Taiyuan and southwest of Beijing, the national capital. Pingyao County is adjacent to Qi County, whose seat is also a protected historical and cultural city. Climate The climate of Pingyao is temperate. It is cold in winter, often having northwestern winds with little snow and severe