The warehouse was built by Yan Jingming, a famous financier in the late Qing Dynasty, a native of Zhaodu, a city in Chaoyi, and a "salvation prime minister". It took four years to build, and was officially put into use and began to store grain in 1886 (the 12th year of Guangxu reign of Qing Dynasty). It was approved by Empress Dowager Zhu as "the first warehouse in the world".
After liberation, it has been used by Chaoyi Grain Station in Dali County. In 2006, it was approved by the State Council as a national key cultural relics protection unit. No matter from the scale of warehouse building, the history of grain storage, or the current use of ancient warehouses, it is worthy of the title of "the first warehouse in the world"