The Earliest Practice of Share Company in China

Private enterprises with the supervision of the government were the earliest practice of the system of western share company in China. It played an important role both in the process of Chinese modernization and in its connection with international convention. It not only contributed a great deal to a new spirit but also gave rise to a series of relative industries, thus pushing forward the construction of Chinese modernization. But because of the cultural differences of the East and the West, the share company system was not well accepted in China. After the financial crisis in 1884, these companies were forced to reform into private businesses before the 1911 Revolution.