Red Top Merchant (Gao Yang's work. Hu Xueyan series)

Author: Gao Yang
Publisher:
Publish Date: 2006-03-01
Features: During the Tongzhi era of the Qing Dynasty, Jiangnan fell into turmoil. Hangzhou merchant Hu Xueyan seized the opportunity, befriended powerful figures like Zuo Zongtang, and navigated the complex world of officials, merchants, the Chinese and foreign communities, and both legitimate and illicit spheres. He rapidly rose to prominence in business, finance, and foreign trade, becoming a. Hu Xueyan's approach to handling relationships emphasized interpersonal connections, a traditional Chinese merchant's principle of operation. This was both the reason for his swift rise and the root cause of his tragic downfall. The "Hu Xueyan Series" is one of Mr. Gao Yang's most renowned works, depicting the legendary story of Hu Xueyan, a towering figure in late Qing-era business, with a delicate touch.
In the midst of the turmoil, Hu Xueyan's two clever adaptations earned him the favor of Zuo Zongtang, and he left Zuo's service. While supplying grain for Zuo's army, Hu also used official funds to establish a private bank in Shanghai. Later, he monopolized the business of procuring foreign guns and ammunition for Zuo and raised funds for the in Fujian, which Zuo planned to build. Hu also pioneered foreign debt financing. His support for Zuo's military efforts drew the attention of Empress Dowager Cixi, who enfeoffed him as the chief tax agent for four provinces and later bestowed upon him the yellow robe and first-rank hat, making him the only "red-topped merchant" in Chinese history.
From then on, leveraging his exceptional business acumen, Hu established "Fukang" bank branches across the country and founded the "Hu Qingyu Tang" herbal medicine shop in Hangzhou, his business flourishing like the midday sun. To break the monopoly of foreign merchants, he also set up a national silk reeling factory, forcing the greedy British merchants to turn to Li Hongzhang, who had long been Zuo's political rival. Through Li's behind-the-scenes machinations, Hu was stripped of his "red top," and his nearly 30 million taels of silver fortune vanished overnight, leaving the once brilliant commercial genius with nothing.