| Yong Xing Industry Incorporated Company was a state-owned industrial enterprise with Xi'an as the center, which was invested by the Bank of China for meeting the needs of society during the Anti-Japanese War. Its development in mainland China lasted from the period of Anti-Japanese war to the postwar period, throughout the whole of 1940s. Yong Xing Company carried out various business activities by means of investing factories and mines on its own, participating in the investment or escrowing the factories sponsored by the Bank of China. Its business areas mainly concentrated in Shaanxi, Gansu, Sichuan and Chongqing, especially in Shaanxi. Its business scopes covered textile industry, engineering industry, power fuel industry, and so on, especially textile industry. Yong Xing Company was the largest industrial enterprise in modern time of northwestern China. Its ten years development course in mainland China was the important chapter for Chinese modern economic history, especially for northwest modern industrial history.The modern industry in northwest China started late and developed slowly. In the 1930s, the modern industry in northwest China began to develop. After the outbreak of the Anti-Japanese War, there was a climax of the industrial and mineral comprehensive development in the northwest. The northwest region became the rear area during the war. In order to satisfy the military resistance and national reconstruction, the national government stepped up efforts to develop the northwest China, which is the main factor for modern industry in northwest China with great development in this period. At the same time, the bank of China was also active in industrial investment activities. Before the war, the bank of China had carried out various investments nationwide, and the proportion of industrial investments was increasing. Through industrial investments, the bank of China got involved in company operation gradually and then took over business management. Finally, the bank of China completed the penetration of bank capital into industrial capital. Cotton textile industry investment activities in north China of the Bank of China, Tianjin branch, which was led by Shu Yunzhang, also provided the experience basis for running the rear enterprise in wartime. After the outbreak of the Anti-Japanese War, the Bank of China made further efforts to expand the scale of investment and broadened the scope of business. The Bank of China participated in investment and construction of industrial and mining enterprises in northwest China more widely. Industrial development in northwest China and industrial investments of the bank of China before and after the outbreak of the Anti-Japanese War together constituted the background of Yong Xing Company.In March 1940, Yong Xing Company was formed for the purpose of developing the economy of northwest district and promoting production. The head office was moved from Tianshui to Xi'an in the following year. According to the actual needs, Yong Xing Company carried out all work steadily by increasing the total capital, perfecting the organization structure, improving the rules and regulations and strengthening the conference discussions. Yong Xing Company gave priority to individual investing and operating factories and mines. Relying on natural resources in northwest China, it mainly engaged in cotton textile industry, also concurrently engaged in machinery manufacturing, power fuel industry and other industries. In addition, as a subsidiary business of the bank of China, Yong Xing Company escrowed or invested the cotton textile factories, in which the bank of China enjoyed equities. It also took part in investing other factories and set up some relevant schools. During the Anti-Japanese War, Yong Xing Company grew quickly and became second only to the industrial system of the resource committee with its great scale and strong strength.After the victory of Anti-Japanese War in 1945, Yong Xing Company tried to develop into a national large-scale enterprise, but this plan ultimately failed to achieve. After the war, Yong Xing Company adjusted the management with the change of national government's economic policy. Its business activities included shutting down a number of factories, changing the production center of alcohol plants, investing a new textile mill and promoting other factories'business. In this period, due to the frequent domestic war and political and economic situation's deteriorating, Yong Xing Company encountered heavy resistance, and its overall development became stagnant. In April 1948, Yong Xing Company began disassemble machinery and equipment and prepared to leave. In December, the head office was moved to Shanghai. On the eve of liberation in 1949, Yong Xing Company was moved to Taiwan, and the rest of the factories in mainland China were took over by the new government. After the Anti-Japanese war, Yong Xing Company strived for continuing development. However, its grand plan came to nothing in that volatile time, and it didn't escape the fate of ending business in mainland China.Yong Xing Company had gone through ten years of development in mainland China and was the largest industrial enterprise in the northwest of China in the 1940s. On the one hand, as a subsidiary business of the bank of China, financial and managerial support from the bank of China provided strong impetus for Yong Xing Company's fast-developing. On the other hand, Yong Xing Company was founded under the opportunity of the national government attaching great importance to northwestern development, and preferential treatment and strict supervision from the government had positive and negative effects on Yong Xing Company's operations. The relationship among with Yong Xing Company, the bank of China and the national government deeply influenced company's own historical process. Yong Xing Company's own development was the important content in the northwest modern industrial history, and its historical influence has some great significance for the development of social economy in northwest of China. Yong Xing Company's production and management met the need for army and people to a great extent and supported the Anti-Japanese War powerfully. Moreover, it contributed to improving the northwest industrial layout, reserving technical and management personnels and promoting the development of northwest industry. Also, it provided contemporary enterprises with some lessons. |
PDF Full Text Request