Abstract The archaeological evidence from the Nanhai No.1 shipwreck provides tangible evidence for the study of maritime trade during the Song Dynasty, revealing the presence of a significant amount of smuggled metal in the cargo, suggesting possible involvement in smuggling activities. Merchants may have used tactics such as under-reporting and clandestine transportation of prohibited items to evade supervision, thus engaging in the illicit trade of metal materials and artifacts banned by the Song government on the international market. Valuations of the goods recovered from Nanhai No.1 indicate that the value of iron and silver exceeds that of porcelain, while the value of gold objects and currency exceeds that of porcelain by one-third. Research also suggests a possible shift in the model of maritime trade during the Song Dynasty, from government-led to merchant-led, with a gradual weakening of government supervision and control over trade. This change may be related to reforms in trade organization and the government leniency toward prohibited activities. Despite repeated government bans, smuggling of metal goods continued throughout the Song Dynasty, with no significant reduction in the scale of the metal trade due to the profit-seeking behavior of private merchants, highlighting the inadequacy of government control over illegal smuggling activities. This complex interplay between economic gain, national security, private interests and government control had profound implications for China, the broader South China Sea region and beyond, while the outflow of metal artifacts also facilitated the exchange of goods, technology and culture between China and the aforementioned regions.
Zhang et al. (2024) studied this question.