Originally, Li Xuan was busily planning to formally open the sea for trade, leveraging the inexpensive industrial goods produced in Nanjing and Tianjin to further tap into new financial sources for the Jin Dynasty.
The maritime prohibition strategies of the Great Ancestor and Emperor Taizong must be maintained, and piracy must be cracked down upon harshly, smuggling forbidden.
However, considering that a system known as 'Mining Permit Trade' had already existed during the Great Ancestor's and Taizong's times, Li Xuan decided to further expand the scope of the 'Mining Permit Trade'.
The Court issued 'Mining Permits' to trustworthy private maritime merchants, setting the price at thirty thousand silver yuan per ten-thousand-tonne ship and fifteen thousand silver yuan for a five-thousand-tonne ship, valid for three years. After three years, qualifications would be verified to see if there was any tax evasion before reissuing the permits.
