洋行，是伴隨著各國租界的開辟而出現(xiàn)的。租界建立后，外國商人紛至沓來，他們從天津深入中國內(nèi)地，采購各種適銷的農(nóng)副土特產(chǎn)品，從天津口岸運銷國外； 同時從國外運來各種廉價的機器產(chǎn)品，通過天津推銷到中國內(nèi)地。從此天津有了日益繁忙的進出口業(yè)務。外國商人依仗租界和不平等條約的庇護，都從中攫取高額的利潤，所以專門經(jīng)營進出口貿(mào)易的外國商行不斷出現(xiàn)。有些商行不一定專門經(jīng)營進出口業(yè)務，但是中國人把這些商行都稱為洋行。
清同治六年 (1867年9月16日),英商怡和洋行天津分行在天津永租到英租界維多利亞道(今解放北路東側(cè))與怡和道(今大連道南側(cè))拐角處土地8.988畝 (5992.03平方米)。怡和洋行，是外國人在天津設立的最早洋行之一。其總行設在上海。除遠洋航運外，還有客、貨輪往返中國沿海航運，開辟上海一天津航線，有船3艘，每月對開3次； 廣州一天津航線，每月對開2次。同治七年(1868)十二月，怡和洋行輪船 “九蘇號” ,自上海開航天津。
怡和洋行受到租界的庇護，享受子口稅的特權(即進口的洋貨向海關繳納一次值2.5%的子口稅，便可運銷全國，不再繳納其它稅費)。
怡和洋行買辦梁炎卿是粵籍買辦中的巨頭，被稱為廣東幫的開創(chuàng)人，也是天津的四大買辦(怡和洋行梁炎卿、太古洋行鄭翼之、俄商華俄道勝銀行王銘槐、英商匯豐銀行吳調(diào)卿)之一。
宣統(tǒng)元年(1909),怡和洋行添設出口部，1913年又添設進口部。第一次世界大戰(zhàn)前夕和戰(zhàn)爭期間，怡和洋行自華北為英國采購了大批豬鬃、羊毛、棉花、大豆、油脂等戰(zhàn)略物資。怡和進口物資以食糖為大宗，其它有面粉、呢絨、布匹、洋酒、油脂等。每年營業(yè)額400萬兩，其經(jīng)濟實力強。特別是在進出口貿(mào)易方面，長時間處于主導地位，是天津早期四大洋行(怡和、太古、新泰興、仁記)之一。
此后，怡和在所租土地上建筑新大樓，1921年竣工(今解放北路157號)。新大樓為兩層，磚木結(jié)構，有45個自然間及地下室3間，院內(nèi)建有倉庫。洋行的進口部、出口部、輪船部、機器部、木材部等，均在樓內(nèi)辦公。此外，在臺兒莊路和塘沽于家堡建有倉庫3處，在河西區(qū)馬場道266號建有經(jīng)理住宅。
1952年怡和洋行天津分行歇業(yè)，其房產(chǎn)由天津市房產(chǎn)公司接管，改為機關所用。今為天津北方人才港股份公司。

·初期怡和洋行

Yanghang,or foreign firms,were emerged with theestablishment of foreign concessions. Foreign businessmencame to Tianjin in a stream. They even went deep into thehinterland,purchasing agricultural products,especiallylocal special ones,and shipping them overseas. They alsoshipped cheap machines from foreign countries and soldthem into China`s inland via Tianjin. Therefore,Tianjin`simport and export business became more and moreprosperous. Foreign businessmen made great fortune withthe protection from concessions and unfair treaties,so moreand more import and export companies came into being.Some companies were not specialized in trade,but Chinesepeople were used to call them as Yanghang.
On September 16,1867 (the 6th year of EmperorTongzhi),Jardine Matheson & Co.Ltd,rented an areaof 5,992.03 square metres around the corner of VictoriaStreet (east of Jiefangbei Road) and Yihe Street (south ofDalian Road) in Britain`s concession. Yihe Yanghang washeadquartered in Shanghai. Besides of ocean navigation,it had passenger ships and freighters running fromopposite directions along China`s coasts. The Shanghai-Tianjin line had three ships and ran three times a month;the Guangzhou-Tianjin line,twice a month. Its TianjinBranch was the first Yanghang in Tianjin.In December,1868,"Jiusu"Ship of Yihe Yanghang set sail from Shanghaito Tianjin.
Jardine Matheson & Co.Ltd,with the protectionfrom the concession,was exempted from Zikou Tax,i.e. imported goods could be sold around China withoutadditional taxation after paying 2.5 per cent of Zikou Tax.
Liang Yanqing was Jardine Matheson & Co.Ltd,comprador. As the initiator of Guangdong CompradorAssociation,he was one of the top four compradors inTianjin. The other three were: Zheng Yizhi of TaiguYanghang; Wang Mingkui of Russo-Asiatic Bank; and WuTiaoqing of Britain HSBC Bank.
Jardine Matheson & Co.Ltd,set up its exportdepartment in 1909 and import department in 1913. Beforeand during the World War I,Yihe Yanghang bought largequantities of war materials from Northeast China for UK,such as bristle,wool,cotton,soybean,oil,etc. As to importmaterials,besides its focus on sugar,it also imported flour,wollen cloth,cloth,wine,oil,etc. Its yearly turnover was4 million taels of silver. Its business,especially import andexport,dominated in Tianjin for a long time as one of thetop four Yanghangs in Tianjin (Yihe,Taigu,Xintai andRenji).
In 1921,Jardine Matheson & Co.Ltd,new buildingwas completed on its rented land. The location today isNo. 157,Jiefangbei Road. The two-story building in woodand brick had 45 rooms above the earth and 3 rooms inthe basement. In the courtyard,there was the storage. Allthe import,export,ship,machine and wood departmentsworked in the building with a construction size of 2,861.19square metres. It had the other three storages at Tai`erzhuangRoad and Yujiabao of Tanggu. The General Manager`shouse was built at No. 266,Machang Road,Hexi District.
In 1952,Jardine Matheson & Co.Ltd,Tianjin Branchwent out of business. Its real properties were confiscatedby Tianjin Real Estate Company and used by thegovernment. Today,it has been changed to Tianjin NorthTalent Harbour Co.,Ltd.

·原怡和洋行天津分行及碼頭