The emergence time of joint-stock enterprises in China

China Merchants, which started its business at the end of 1872, was the first new-type joint-stock enterprise in modern China that borrowed from western joint-stock companies and raised funds by issuing shares (then also called "shares" and "absorbing shares"). This new type of enterprise organization has a great influence on the establishment of westernization private enterprises, which can be seen from the fact that a number of joint-stock enterprises established one after another in the next decade generally follow the example of China Merchants. Its influence, summed up in the article published in Shenbao, is that "China Merchants started, one person advocated, and everyone made peace." In a few years, the atmosphere was wide open and companies gathered. Although there are some successes and failures, it has changed the narrow rules. "