Internal And External Pressures Under The Joint Venture The Road: The Fuyuan Banks In The Post-liberation Struggle For Survival (1949-1955),

At the beginning of establishment of People's Republic of China,one of the most important tasks was to revitalize Chinese economy from sever destroy.In order to help economic development more efficiently,it became national goal to bring all kinds of resources into national system.And joint state-private ownership was one way led to the goal.On the other hand,due to communist ideology,their side impress on bourgeoisie affected the policies and activities in the process of transfer private ownership into state ownership.To Foh Yuen Native Bank,which was established in year1919,new government would bring not only the opportunity,but an unexpected future as well.As a common financial institution,Foh Yuen was always in pursuit of profit,self-development through hard working.Therefore,it cooperated with government's financial policies, and was allowed to continue their management.Although the financial market was not so large,the bank won the profit,which encouraged the investors and the managers.Nevertheless,continuous economic crises brought about the difficulties.At the same time,internally,labor union got politic and economic power,while the managers lose somewhat control of the bank.Externally,state-owned bank and joint state-private owned banks got well development,which brought competent pressure. Foh Yuen chose to unite other 11 banks as a whole union.But government censured their competence.In addition,the bank was deprived of the power on its own operation,HR,management,and was under control of the union.And after the "Five Opposition" Movement,its investor gave up the ownership of Foh Yuen Native Bank, which was finally became one financial institution of a big joint state-private owned bank.