The emergence of government-run and private enterprises

Author: Cao Kaifeng
Publisher:
Publish Date: 2002-01-01
Features: This book narrates the nearly century-long development history of the China Merchants' Steam Navigation Company, including its experiences, lessons, and valuable insights that can be drawn by today's B.O.T. enterprises. The main content of the book includes: The dominance of foreign steamships in Chinese waters and the decline of local sandbar steamship industries shocking the Qing government; Li Hongzhang proposing the establishment of a steamship bureau and Zhu Qian'ang raising funds in Shanghai; Zhu's fundraising efforts facing cold reception and Tang Tingshu's recruitment into the company; Raising more funds and establishing branches nationwide, setting up insurance, and achieving smooth operations across the country; The three principals jointly negotiating the purchase of the Chartered Shanghai Steam Navigation Company's ships and settling freight rates; Facing financial turmoil and frequent layoffs of merchants, the company feigns selling ships to avoid war; Exerting great efforts to reform under the supervision of Sheng, establishing customs stations, and enabling merchant steamships to access inland waters; Engaging in cross-industry operations to strengthen capabilities and nurturing talent, with financial support for schools; Facing exploitation, the company changes hands four times, with shareholders driving out government supervision and establishing a commercial-run model; The major turning point for the company enters the Republic of China, with sharp profits growth due to World War I; Disputes within the board of directors result in missed opportunities, passenger and cargo ship boycotts, and resistance against warlords; Punishing corruption, Zhao Qiao is assassinated, and Li Guojie is arrested for bribery; Transforming into a state-owned China Merchants' Steam Navigation Company, with Liu Hongsheng taking the lead in the restructuring; Facing national crises, the company sinks ships to resist Japanese aggression, retreats to the Minjiang River, and operates in Southwest China; Concealing large sums of money, Cai Zengji commits fraud to prioritize ship repairs for the war of liberation; Following government orders, the company takes full control of enemy assets, purchases foreign ships with financial aid, expands routes, faces soaring costs and losses due to internal wars, and suffers operational setbacks; Expanding capital to seek monopoly, reforming into stockholding to support the struggling economy; The tragic sinking of the Jiangya shocks the world, leading to a major collapse and the relocation of the headquarters to Taiwan.