🇵🇭 Binondo (岷倫洛) is a district in Manila and is referred to as the city's Chinatown. Its influence extends beyond to the places of Quiapo, Santa Cruz, San Nicolas and Tondo. It is the oldest Chinatown in the world, established in 1594 by the Spaniards as a settlement near Intramuros but across the Pasig River for Catholic Chinese, it was positioned so that colonial rulers could keep a close eye on their migrant subjects. It was already a hub of Chinese commerce even before the Spanish colonial period. Binondo is the centre of commerce and trade of Manila, where all types of business run by Filipino-Chinese thrive.
Before World War II, Binondo was the centre of a banking and financial community which included insurance companies, commercial banks and other financial institutions from Britain and the United States. These banks were located mostly along Escólta, which used to be called the "Wall Street of the Philippines".
After the war and new development, most businesses began to relocate to the newer area of Makati. During the financial crisis of the early 1980s, it had the moniker "Binondo Central Bank", as the local Chinese businessmen engaged in massive black market trading of US dollars, which often determined the national peso-dollar exchange rate. Given its rich historical and financial significance, Binondo is said to have one of the highest land values nationwide.
Binondo has a population of over 12,990 people. Binondo also forms part of the wider Metro Manila metropolitan area which has a population of over 13,482,000 people.