Emperor Shunzhi (1638-1661) was the first ruler of the Qing Dynasty. During his reign, China's financial system underwent a major transformation. The coinage system of the previous Ming dynasty had become obsolete and corrupt, and the emperor decided to introduce a new system. Emperor Shunzhi's first financial reform took place in 1644. It was then that he introduced the "Chinese Big Money" (大清通宝), which was a new silver-based money. The Big Money was divided into 100 jiao, and each jiao consisted of 10 fen. The Big Money was officially introduced in 1645 and quickly spread throughout China. In addition to the introduction of the Big Money, Emperor Shunzhi also implemented many other financial reforms. In 1647, he introduced the "Chinese Small Money" (大清小平钱), which was a smaller copper-based money. Small money was officially introduced in 1648 and was mainly used for daily purchases. The financial reforms of Emperor Shunzhi contributed significantly to the establishment of financial stability in the Qing Dynasty. The introduction of Big Money and Small Money unified the monetary system in China and helped to reduce corruption. The minting of Big Money and Small Money continued during the reign of Emperor Shunzhi. The minting of the Big Money continued until 1661, and the minting of the Small Money until the end of the Qing Dynasty, until 1911.