The qiaopi businesses thrived in Hainan from the 1910s to the 1930s. In Nanyang (an old name for Southeast Asia), the rapid increase in the number of overseas Chinese from Hainan stimulated the local qiaopi industry. By 1939, there were 55 qiaopiju (remittance firms) in Haikou, including Pingminzhan, Yirilong, Taiyuan, Zhongmin, Fuchengfeng, and others.