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sep 24, 1664 - Chinese Trade

Description:

In 1684, the East India Company received Chinese permission to trade from Guangzhou (Canton) importing silk, tea and porcelain. Trade was made with the Chinese Hongs (trading companies) who controlled trade within China. In England, the demand for tea boomed. In 1664, the Company placed an order for tea for 100 lbs. By 1750, annual imports had reached 4,727,992 lbs. Having initially traded tea for silver, the English were concerned that too much silver was leaving their shores. They begin to trade the highly addictive drug opium for tea, this led directly to the opium wars between Britain and China, as the Chinese government tried to stop this trade.

Added to timeline:

10 months ago
0
0
101
British EIC

Date:

sep 24, 1664
Now
~ 354 years ago
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