(1) Three enterprises sign a strategic alliance agreement.
August 1872, the Qing court delivered the task. 18 On February 23rd, Li Hongzhang submitted the Pilot Ship Investment Discount and introduced the relevant preparations. 1873 China merchants was established, and the Qing court handed over the grain transportation to China merchants at the price of10.92 million. Merchants raised 732,000 yuan, totaling 267,000 yuan.
It can be said that the starting point of China Merchants is not low and the background is strong. Therefore, as soon as China Merchants was established, its three major companies, Chang, Jardine Matheson and Swire, were ready to destroy China Merchants in the primary state where China Merchants had not developed greatly.
1February, 874, three joint competitors signed an offensive and defensive alliance and reduced their prices. That is, the water foot of freight transportation around the country is reduced by 50-70%; Passenger transport prices are reduced by 50-80%. I hope to crush China Merchants with my strong economic strength.
In the face of three foreign consortia, in March, China Merchants Shipbuilding Industry Bureau immediately saw a move to dismantle Taiwan-the freight rate on the Yangtze River route was greatly reduced, which was always 30% lower than that of British and American shipping companies, and the freight rate was reduced to less than 50% in actual operation.
You see, this kind of pure price competition is impossible only by businessmen's capital.
Do Tang, Sheng Xuanhuai and the three directors of China Merchants Bureau have financial resources? Moreover, if you have it, you won't pay for it yourself. It is most popular to pay for your own interests from the pockets of the Qing court.
Li Hongzhang is an official with a salary of 32,000 to 42,000 a year. He still has many shogunates who need to pay their own salaries and family expenses. Being an official in Tianjin is not far from Beijing, but also taking care of all local senior officials such as yamen and Prince Baylor. Therefore, as we all know, if he injects capital, he can only announce to the world that I, Li Hongzhang, have been greedy for a lot of money.
There are no such stupid corrupt officials at all times and in all countries. Of course, if he is a high-ranking minister, no one dares to say, but Li Hongzhang is not up to standard. A large number of censors are paying attention. If he injected capital on a large scale and turned the enterprises of the Qing court into his own, it would be too contemptuous of Li Hongzhang's IQ.
Some people say that Hu Xueyan is also a shareholder. However, Hu Xueyan's main focus is on textiles and the acquisition of raw silk. Besides, as a businessman, Hu Xueyan will not offend the government. For example, he has a good personal relationship with Sheng Xuanhuai. But don't forget, Hu Xueyan became famous only with the support of the Left, and his relationship with Li Hongzhang could not be too close.
Therefore, China Merchants can only rely on the Qing court.
At first, these three companies didn't take China Merchants Steamship seriously, thinking that their behavior would not last long. But they obviously forgot one thing: In China, China Merchants had the support of the Qing government.
(2) Differences between Chinese and foreign enterprises
Although the strength of foreign companies is very strong, for a country as big as China. If the Qing court supported an enterprise with the power of the state, it is self-evident how strong the enterprise is.
The Qing court held two attitudes towards the land support of China Merchants: First, water transportation and various public utilities designated by the Qing court and local governments would not participate in the "price war". Therefore, China Merchants adopts "supporting the people with the public". Private competition triggers a "price war".
In these two cases, the Qing court banned local shipping enterprises in China from competing with China Merchants, which would increase the income of private enterprises. How much cost can be reduced at the same time.
Excuse me, what are the businesses of the three shipping companies in China? China Merchants has two companies, public and private; The three major competitors are only privately owned, and in this competitive state, only private entrepreneurs with very close relations with foreign countries will hand over the goods to the three major competitors, while people with a little national feelings at that time will only hand over their business to China Merchants.
Therefore, China Merchants is actually an enterprise supported by the Qing court and Chinese businessmen. China is weak, and China enterprises are weak. You three foreign players can't win.
At the same time, although foreign * * * supports domestic enterprises, because of the checks and balances of public opinion, political parties and domestic competitors on a domestic enterprise, foreign * * * will never use * * * funds to obviously support an enterprise, nor will it be obtained from the National Assembly or the Parliamentary Assembly.
More importantly, the three foreign competitors of Britain and America are giants in China, but not in Britain and America. Therefore, as an enterprise, no matter how strong you are, it is impossible to compare with a big country like the Qing court in terms of funds.
How much food do millions of people, such as officials, troops and the Eight Banners, need every year? So, do you think China Shipping Bureau needs to worry about its own survival?
Coupled with the lack of funds, please borrow money from the Qing court. Therefore, China Merchants relied on the national strength of China in Qing Dynasty to compete with the three major groups. Therefore, the first company to be defeated was Qichang Shipping Company.
(3) The annexation of Chichang steamship: China Merchants finally annexed Chichang because only Chinese shareholders were struggling at that time.
The reason why Qichang is at a disadvantage is simple.
First, the national strength of the United States on which it depends is not good enough. 1870s, the comprehensive national strength of the United States still lags behind that of Britain, France, Russia and other countries. Comprehensive national strength is not only economic strength, but also the regional strength of "America's first bully" at that time.
Second, the United States has better development opportunities, and American capital is returning. After the American Civil War (186 1- 1865), the domestic economy of the United States developed rapidly due to the complete unification of the market. It can be said that it is precisely because of this war that the United States has changed from a regional power to an international power.
Of course, the American capital of Qichang Foreign Firm could not give up better development opportunities, so it withdrew its main energy to the United States. Therefore, China's Qicheng ship is not loved. Mainly supported by Chinese businessmen in China.
China's rich are like this. In the face of competition, they are short of natural gas, and businessmen are "mercenary". After two years of price war, I saw that the China Merchants Bureau for steamships was getting stronger and stronger, and my income from the company to the individual was greatly affected. Many people can't hold on.
From 1874 to 1876, the annual dividend ratio of Chinese and foreign shareholders is only 7%, which is very unacceptable for shareholders who are used to enjoying high dividends. At the same time, the total assets of Qichang dropped from 3.82 million in 1872 to more than 2 million, and the share price dropped from 200 to 500.
Jardine House
On the contrary, China Merchants not only cut prices sharply, but also kept buying ships while cutting prices. From August of 1874 to July of 1876, China merchants successively purchased 8 ships and rented 3 ships from China, increasing 1 1 ship.
So, starting from 1876, Qichang began to seek to sell. In August, Tang, Sheng Xuanhuai and Zhang went to Yantai to meet Li Hongzhang. However, Li Hongzhang has spent a lot of money because of price competition, and the capital for acquiring Qichang is relatively large. Li Hongzhang dared not agree.
However, Li Hongzhang is also smart and confused!
Seeing that Li Hongzhang disagreed, the three directors went to Nanyang. As a result, it triggered a drama in which the North and the South competed for China Merchants.
/kloc-in the 0/870s, the United States and Britain fought fiercely for shipping. Cixi: All the benefits belong to others! Take it back from Li Hongzhang.
Long Hudou in the late Qing Dynasty: Cixi was born in 73 years, died 1.5 years, and ended in Dingdong Mausoleum in the late Qing Dynasty.
Li Er at the end of the late Qing Dynasty: one was martyred and the other seized power.
What did Zuo and Li Hongzhang say to Cixi before they died? The two men judge each other.
1885! The green back is broken.
Zuo, Li Hongzhang, He, the counselors of the country's good generals and the growth of villains