中国（唐宪宗时代）是最早使用类似纸币的流通券的国家。
过去，人们一般认为最早使用纸币是11世纪后半叶的欧洲。其实，早在9世纪，中国的唐宪宗时代即已开始流通具有纸币功能的流通券。
当时通商用的纸制流通券，是用桑树皮经过特殊加工制成的。经商者将这种纸币作为交换银币的依据。这样，就可不必随身携带沉重的银两出外。而到各地经商时可根据需要再将纸币兑换成银两。
但是这种当时使用的纸币与四个世纪后欧洲人使用的纸币相比，有着易燃、易潮等不足之处。但世界上最早的纸做的纸币也是首先在中国使用的，出现于北宋，当时称为“交子”。
China Tang Dynasty – firstly to Circulate Paper-like Money
China is the earliest country to circulate paper money in the world. European was considered as the earliest zone to circulate paper money from latter half of the 11th century. But the historians proved later that in the 9th century of China, Tang Dynasty, Xianzong Emperor period, ‘paper money’ had been a vulgate commercial currency.
The paper currency was made from the leaves of white mulberry trees with special craftsmanship. It was like modern cheque to exchange silver at that time. Business man didn’t need to carry heavy tael with them to do business around the country. They might exchange the leaves cheque to tael as needed.
But the Chinese ancient paper money, the leaves money compared with paper money later used in European 4 centuries later, was with shortcoming of inflammable, easy water absorption.