This article examines the endurance of timbering and rafting along the upper Yellow River in the late nineteenth and early twentieth centuries as a case study of Fernand Braudel’s ‘social time’ of that critical section of the waterway, marked by intensified commerce and shifting political dynamics. The Muslim consolidation of midstream Ningxia, anchored in upstream Linxia, exemplified how Hui economic dominance intertwined with territorial control. These networks, later repurposed to support China’s resistance against Japanese imperialism, were abruptly disrupted by mid–twentieth-century dam construction and socialist collectivisation. Beyond economic history, the article interrogates historiographical silences surrounding Hui economic territorialisation. While external observers, including Republican officials and Japanese strategists, acknowledged Hui commercial monopolies, state historiography under the People’s Republic of China has often downplayed them to maintain narratives of ethnic harmony. Analysing cinematic representations across different eras of the twentieth century, the article further argues that film serves as a counterpoint to official narratives, offering an alternative medium where Hui agency and economic territoriality are articulated and contested. By bridging economic history, historiography, and visual culture, this study highlights the political stakes of ethnic commerce and the ways in which Hui identity has been shaped and reshaped across different political regimes.