The Ming court launched its famous expeditions overseas in the early fifteenth century and suddenly terminated these voyages after 1436. This article attempts to reassess the driving force of this event and its termination in the context of the Ming's domestic financial system, revealing that both the initiation and the cessation of Zheng He's voyages could be explained by the political and fiscal tension between emperors and bureaucrats. This article will also discuss how the cessation of Zheng He's voyages contributed to the onset of private sailings after the mid-fifteenth century.
