Who were the cohongs in Guangzhou’s foreign trade system?

The cohong (a corruption of the Chinese term gonghang) was a guild of Chinese merchants officially authorized by the Qing government to manage all foreign trade at Guangzhou prior to the first Opium War.12

Key aspects of the cohong system included:

• Monopoly and Regulation: Established formally as the gonghang in 1760, these merchants held an exclusive monopoly on the sale of goods like tea and silk to Westerners. They were the only intermediaries through which foreign traders could conduct business in China.12
• Legal Responsibility: Each foreign ship arriving at the port was required to be supervised by a hong merchant. These merchants acted as guarantors to the Chinese government, taking full responsibility for the payment of customs duties and the conduct of foreign traders.12
• Structure: While the group theoretically consisted of 13 firms, the number of active merchants often fluctuated. Despite being subject to heavy exactions from officials, some merchants, such as Howqua (Wu Bingjian), amassed significant wealth.1
• End of the System: The cohong system was abolished following China's defeat in the first Opium War, which led to the opening of treaty ports and the end of the restricted Canton system.23