Emperor Daoguang was the sixth ruler of the Qing Dynasty who ruled China from 1820 to 1850. His personal name was Minning, and his reign saw many internal rebellions and external disasters, including the first Opium War. At the beginning of his reign, Emperor Daoguang faced the depletion of the public finances and tried to restore China's finances through personal austerity. Repairs to dams on the Huang He (Yellow River) to prevent floods and famines, as well as repairs to the Grand Canal, which brought rice from southern China to the capital, Beijing, became urgent. However, corrupt officials embezzled the money for repairs, and Emperor Daoguang did not dare to reduce the size of the workforce lest the repair problems increase. By 1849, the Grand Canal had become impassable, and rice shipments had to be made by sea, where they were threatened by pirates. Unemployed canalmen helped fan the flames of unrest. In 1838, his attempts to stop the opium trade, which was carried on by Western traders, led to the first Opium War between China and Great Britain (1839–42). The costs of the war and the large amount of reparations paid under the peace agreement added to the discontent. Before Emperor Daoguang's death, the great politico-religious uprising, the Taiping Rebellion (1850–64), began, which almost overthrew the dynasty. Emperor Daoguang was born on September 16, 1782 in Beijing and died there on February 25, 1850, 67 He was succeeded by his eldest surviving son, Yizhu, who was later enthroned as Emperor Xianfeng. During his reign, the Qing dynasty faced many challenges, many of which would prove fatal under the reigns of later emperors.

During the reign of Emperor Daoquang (1820-1850), China's financial system underwent significant changes. The emperor tried to modernize finance and create a stable currency system. One of Daoquang's first measures was to introduce paper money made of tar. These banknotes were cheaper and more durable than the previous banknotes made of silk. The introduction of paper money greatly facilitated trade and financial transactions. In 1825, he minted a copper coin called "Daoguang Tongbao" (道光通寶). This coin became one of the most commonly used coins of the Qing Dynasty. In 1838, he introduced a silver coin called "Yuanbao" (元寶). This coin became the official currency unit of China. During the reign of the emperor, the amount of coinage also increased significantly. Due to the increasing demand, new mints were handed over. Daoquang minting played an important role in China's economic development. The development of the modern financial system contributed to the growth of trade and the economy. Daoquang's coinage significantly contributed to the modernization of China's financial system.