20
export nature of their business required some familiarity with the commodities traded. Fourth, some of the businesses had associate firms (lianhao) in Hong Kong. This suggests a network of business connections which may have existed prior to the merchants' departure from China. The more successful merchants also established their own associate firms in Hong Kong, Australia, Canada, San Francisco, and even Yokohama, indicating they had associates who were knowledgeable in Chinese business practice. Table 3 shows Hong Kong merchants were connected with a lot of countries particularly between 1891 and 1900. The close business connections between Hong Kong, Canton, Macau, and Shanghai formed an important business area. The inseparable economic ties between Hong Kong and Canton, with Hong Kong serving as the entrepot - importing goods for Canton merchants to distribute to the mainland and exporting goods that Canton had collected from inland. It is noteworthy that some of the importing and exporting firms in Hong Kong were not only engaged in business with China but also with America and Southeast Asia. For example, the trade in rice, a staple food of the vast Chinese population, was of great importance to the Chinese both at home and abroad. Li Chit, an import and export rice merchant, held a lot of shares of different businesses in different countries. He had opened a rice shop in Sheung Wan, Hong Kong, in which he had invested $4,000. He also invested capital in three rice shops, mainly located in Sheung Wan, for a total sum of $2,500 plus 500 taels. He also had a rice and Annam goods dealing company in Vietnam, suggesting the rice
Table 3note: () number of businesses; ? uncertain
Source: HKRS#144
20
export nature of their business required some familiarity with the commodities traded. Fourth, some of the businesses has associate firms (lisnhso) in Hong Kong. This suggests a network of business connections which may have existed prior to the merchants' departure from China. The more successful merchants also established their own associate firms in Hong Kong, Australia, Canada, San Francisco, and even Yokohama, indicating they had associates who were knowledgable in Chinese business practice. Table 3 shows Hong Kong merchants were connected with a lot of countries particularly between 1891 and 1900. The close business connections between Hong Kong, Canton, Macau, and Shanghai formed an important business area. The inseparable economic ties between Hong Kong and Canton, with Hong Kong serving as the entrepot - importing goods for Canton merchants to distribute to the mainland and exporting goods that Canton had collected from inland. It is noteworthy that some of the importing and exporting firms in Hong Kong were not only engaged in business with China but also with America and Southeast Asia. For example, the trade in rice, a staple food of the vast Chinese population, was of great importance to the Chinese both at home and abroad. Li Chit, an import and export of rice merchant, held a lot of shares of different businesses in different countries. He had opened a rice shop in Sheung Wan, Hong Kong, in which he had invested $4,000. He also invested capital in three rice shops, mainly located in Sheung Wan, for a total sum of $2,500 plus 500 taels. He also had a rice and Annam goods dealing company in Vietnam, suggesting the rice
Table 3
Businesses Owned by Hong Kong Merchants
1850-70
1871-80
1881-90
1891-1900
1901-1906
Canton
2(?)
4(?)
6(6)
6(?)
Macau
2(2)
4(4)
2(?)
Shanghai
1(1)
2(2)
Rest of China
1(?)
1(?)
++
2(2)
Japan
▬
1(?)
Southeast Asia
4(6)
3(8)
Australia
North America
Europe
Total
1
1(1)
3(7)
358
1(2)
1(2)
5
11
22
14
note: () number of businesses; ? uncertain
Source: HKRS#144
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