Abstract
The present study analyses the yarn production of the Shenxin Company across three periods, ranging from the First World War to the eve of the Chinese War of Resistance against Japanese Aggression (the Anti-Japanese War). The study adopts a quantitative method to compare, analyse and discuss the development trends of the company during different stages of history, and explores the changes in yarn production of the members of the Shenxin conglomerate in Hankou, Wuxi and Shanghai in detail. The analysis showed that despite a slowdown in the Chinese economy, Shenxin’s cotton spinning and weaving system had managed to exceed its yarn production shares in 1931–1932, indicating that the system coped well with the economic crisis.
Highlights
The present study analyses the yarn production of the Shenxin Company across three periods, ranging from the First World War to the eve of the Chinese War of Resistance against Japanese Aggression
Changes in yarn production of the Shenxin conglomerate members in Hankou, Wuxi and Shanghai are explored in an in-depth analysis
In 1922, Shenxin No 3 Mill accounted for 42% of all yarn production in Wuxi, which further rose to 48% in 1924
Summary
Vol 15, No 10 2019 smallest contributor to Shenxin’s yarn production during this period. Yarn imports declined by half in 1918, compared with those in 1913 This opened up opportunities for Chinese businessmen to develop the cotton spinning industry. Following the First World War, the Twenty-one Demands and the May Fourth Movement ignited patriotic sentiments among the Chinese who were engaged in a boycott of Japanese goods, leading to another historical opportunity for the development of the enterprises funded by national bourgeoisie capitals. The decline in imports of Japanese yarn opened up markets for the development of national enterprises. China’s cotton spinning and weaving industry witnessed unprecedented development during this period. Given the changing nature of yarn production and that the true production levels of the Shenxin No 6 Mill were too early to gauge as it was established on November 1931, the study chose data of yarn and cotton fabric production from different regions in 1931 and 1932 (Table 2)
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