The Study Of Yingkou Dongshenghe Debt Case In The Late Qing Dynasty Under The View Of Commercial Credit

After the port opening in Modern times,the business environment of Yingkou is steady and very suitable for business operation.The commercial trade of Yingkou has developed rapidly while the commercial credit has further development.During the course of the early development)of Dongshenghe,a famous trade firm in Yingkou,the good commercial credit plays an important role in many aspects such as capital,supply and customers and so on.During the late Qing Dynasty,the situation in the Northeast was turbulent and the business environment was gradually deteriorated in Yingkou.Dongshenghe fell into the deep debt crisis gradually.Finally,it went bankrupt and formed a debt cases.The Dongshenghe debt cases has seriously affected the commercial credit of Yingkou,which caused extremely serious consequences.The chamber of commerce in Yingkou,the Government of Yingkou and the Bank took a series of measures to mediate the debt cases actively,which calmed the debt cases and restored the commercial credit.This paper is based on the view of commercial credit,by analyzing the causes of debt cases,the mediation of debt cases and the recovery of commercial credit in Dongshenghe,which can form a comprehensive and objective understanding of commercial credit.When the business environment is stable,the traditional business custom that focus on commercial credit can maintain the cooperative relationships and promote the development of business.But when the business environment is unstable,the commercial credit risk will be much higher.This commercial custom cannot completely protect the interests of creditors.Therefore,the credit guarantee mechanism should be established combining formal and informal constraints,which fully plays the role of commercial credit in promoting the development of trade and commerce.This paper consists of four parts,which mainly discuss Dongshenghe debt cases from the perspective of commercial credit:The first part talks about the business environment of Yingkou in the late Qing Dynasty and the performance and function of commercial credit in Yingkou including the special business “Da Wuzi” and “Yin Lu”business.This part also analyzes the effect of good commercial credit on the early development of Dongshenghe.The second part,which analyzes the formation of Dongshenghe debt cases and the impact of Dongshenghe debt cases on commercial credit in Yingkou.This part mainly analyzes the decline of Dongshenghe and its reasons,which discusses the dishonest behavior of Dongshenghe in the process of decline and the performance of the impact of debt cases on commercial credit of Dongshenghe in Yingkou.The third part is the highlighted part of this paper,which mainly discusses the necessity of the mediation of Dongshenghe debt cases for the restoration of commercial credit in Yingkou;the difficulties in the process of mediation of Dongshenghe debt cases;The chamber of commerce of Yingkou,the Government of Yingkou and the Bank took a series of measures to mediate the debt cases;after the mediation of Dongshenghe debt cases,the performance of business credit has recovered.The fourth part is the evaluation of Dongshenghe debt cases.The Dongshenghe debt cases were the typical representative of the domestic regional economic crisis in the late Qing Dynasty.The mediation of debt cases in Dongshenghe will provide a reference for the settlement of regional economy after the end of Qing Dynasty.The historical lessons of the formation of debt cases in Dongshenghe will also promote the improvement of credit guarantee mechanism.