在汇票的历史演变过程中，其基本功能的发展至少经历了两个重要阶段：香槟集市阶段和安特卫普阶段。其中，结算功能产生于13世纪的法国香槟集市，流通和融资功能则产生于16和17世纪的安特卫普。从制度变迁理论的角度，香槟集市和安特卫普作为欧洲国际贸易中心所意味着的庞大市场规模，是上述功能产生的一个重要推动因素。而在两地成为国际贸易中心以及汇票功能不断发展的过程中，政府所发挥的积极作用也至关重要。
In the historical evolution of the bill of exchange, the development of its basic functions has gone through at least two important stages: the Champagne Market stage and the Antwerp stage. The settlement function of bill of exchange originated from the French Champagne Market in the 13th century, and its circulation and financing function originated from Antwerp in the 16th century. From the perspective of institutional change theory, Champagne Market and Antwerp, as the European International Trade Center, implied a huge market size, which was an important driving factor for the above functions. In the process of the two places becoming international trade centers and the continuous development of functions of bill of exchange, the positive role played by the government is also crucial.
