Heritage Exhibition of Traditional Pawnshop Business

Heritage Exhibition of Traditional Pawnshop Business in Macau is an example of how pawnshops were operated in Macau of the yore. The pawn business in Macau has a weighty part in the history and the growing economy of Macau. Located near the Senado Square, the Heritage Exhibition of Traditional Pawnshop Business in Macau shows an important facet of the Macanese life.

Heritage Exhibition of Traditional Pawnshop Business in Macau is situated in the old "Tak Seng On" [The Virtue and Success Pawnshop] building. Founded in 1917 by a wealthy Macanese merchant Mr. Kou Ho Ning, the structure is quite similar in the architectural design and layout, internal decor and tools used. A memorial straight out of the annals of history, the Heritage Exhibition of Traditional Pawnshop Business in Macau aims at preserving of the cultural inheritance of Macau.

Heritage Exhibition of Traditional Pawnshop Business in Macau offers a glimpse the zenith of the pawn shop business in Macau. The pawn shop business in China dates back to 5th century A.D. The pawn shops in Macau are categorized as per the pledge they offered, either Tong, On or Ngat. Tong shops required the highest level of capital asset in terms of amount and resources. Things could be hocked up to three years and the interest charged was the lowest. On type offer loans arranged for one or two years at a somewhat higher interest. The Ngat category was at the smallest echelon of operating funds. The loans offered extend from four to twelve months. The rate of interest was highest among the three categories. Every pawn shop has multi-storey go-down to store all pledged articles.

Heritage Exhibition of Traditional Pawnshop Business in Macau presents a lively sketch of the history of the Pawnshop Business in Macau. It has all the recorded incidents in the rise and fall of the business in Macau. The constant administrative measures to regulate it, Sino-Japanese war period growth, its upward movement with massive immigrant influx and its decline with the growth of modern banking system are vividly described in the galleries. The current intensification of gambling industry and offshore banking in Macau can be traced to the historic roots lying in Pawnshop Business.

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