A Study On Chen Guangfu

Chen Guangfu is a well-known financier, entrepreneur and social activist in modern China. In the early 20^th century, he established Shanghai Commercial and Savings Bank and made it the most successfully-managed bank in China from a very small-sized one with his unique talents in banking. Hence he has been honored "the excellent banker in China". In 1920s, he founded China Travel Agency, the first travel agency in China, which is not only the biggest tourism enterprise in China, but also listed among the world-famous travel businesses. Meanwhile he also initiated in China such modern enterprise management concepts as "Serve the society", "Sincerity first", "Scientific management", "Talents Strategy" and so on, which have still been regarded as the criteria of management today.In the Anti-Japanese War, he had been to the US twice for the loans and dedicated much to the final success of the War with his nimble diplomatic talents under the complicated international situations. What's more, Chen Guangfu, serving as the Chairman of "the Foreign Trade Commission" and the Chairman of "the Stabilization Board of China" in the War, had played an important historical role in stabilizing the domestic finance and foreign currents during that specific period of China. Chen Guangfu, without any doubt, is an important historic figure in modern China who should arouse people's attention and commemoration.This paper is going to give a commentary review of Chen Guangfu in six chapters.The first chapter is about his early young days which are a preparatory stage of his later great achievements. It includes his early childhood in his hometown Zhenjiang County, his apprentice life in Hankou and his experiences later in the Postal Customs of Hankou. It also narrates his six-year long study life in the US from 1904 to 1909, during which he has overcome all kinds of hardships and successfully mastered the advanced knowledge in finance and banking and got his bachelor's degree from Wharton School of Pennsylvania University at last. After returning back to China, he applies what he has learnt to the practice of Jiangsu Provincial Bank. Although he has been successful in the managing this bank, he has to resign because of the official interferences. Hence he quits the idea of getting a post in the governmental office.The second chapter is mainly about the establishment, progress and summit of Shanghai Commercial and Savings Bank which represents the greatest achievement of Chen Guangfu's whole life. It records the targets, methods, achievements of this business in different historical periods and analyses Chen Guangfu's management concepts in banking, from which we can trace the development of financial and banking history in modern China and the foresights of modern Chinese financial entrepreneurs as well.The third chapter focuses on China Travel Agency which is one of Chen Guangfu's great lifelong successes. It illustrates the background, development experiences, the main businesses of this agency and it reveals the reasons why this agency has been top listed for several decades in China.The fourth chapter reviews his great contributions to the Chinese nation in the Anti-Japanese War in order to show his talents in politics and diplomacy. On behalf of Kuoming Party, he has fulfilled the "Silver Mission" and effectively safeguarded the credit of Fabi. Concluding negotiations with the US for two commercial loans: the "Wood Oil Loan" in 1939 and the "Tin Loan" in 1940, Chen Guangfu has borrowed $45 million from America for Kuoming government and thus definitely strengthened the whole nation's confidence in defeating the invaders. As the Chairman of "the Foreign Trade Commission" and "the Stabilization Board of China" in the War, he has contributed a lot to domestic finance at that time.The fifth chapter is about the kind invitations from Communist Party to Chen Guangfu at the turning point in 1949, his contradictory hesitation and his pains-taking efforts in thawing the foreign assets of the bank, which reveals his closely-knit tie with Kuoming Party and his unremitting pursuit for his banking business.The sixth chapter, based on the historical evidences in the previous five chapters, analyses Chen Guangfu's attitude towards politics. Brilliant in banking, commerce, and diplomacy, Chen has been attached too much importance by both Kuoming Party and Communist Party. Although he has various ties with government, he always keeps a dissociating attitude towards politics, which makes him stay far away from the governmental appointments and concentrates on his own business affairs. This chapter portrays the unique charm of Chen Guangfu, a historical VIP in modern China.From the different historical periods and business aspects, this paper tries to portray the whole struggling life of Mr. Chen and his dedications to modern China. What's more, the paper still tries to trace the development of modern Chinese finance and commerce, re-occur the political conflicts and military turbulences in modern China and the then complicated and changeable current affairs at home and abroad.It hopes that this paper will give a fair judgment on the historic figure Chen Guangfu and it will also revive a truthful brilliance to modern Chinese history.a...