Abstract
The auction of Shenxin No.7 had great influence at that time, because it made the Kuomintang government start a series of investigations into Shenxin as a whole. In order to address the plight of the 1930s, Shenxin Improvement Commission was established. On the basis of historical data, the author explores these two issues, and concludes that the unity of the people played a great role in the social injustice at that time, and Shenxin Improvement Committee also played a certain role in addressing the dilemma at that time.
Highlights
The auction of Shenxin No.[7] had great influence at that time, because it made the Kuomintang government start a series of investigations into Shenxin as a whole
HSBC illegally auctioned Shenxin No 7 on the grounds that Shenxin No 7 failed to repay its debts. This auction did not become a reality like the supervision of the bank consortium, it had a certain impact on Shenxin’s development and managers’ experience during that period
In addition to several companies being supervised by bank consortium, there were other difficulties, among which, the auction of Shenxin No.[7] was one of the difficulties having very serious impact
Summary
Shenxin borrowed two million yuan from HSBC, There are four root reasons for this event and the which was due in 1934. Shenxin was unable to difficulties of Shenxin textile system in that period. Repay the loan and asked for a rollover by paying back First, the Rong family suffered serious losses due to ass.ccsenet.org Shenxin was unable to difficulties of Shenxin textile system in that period. repay the loan and asked for a rollover by paying back First, the Rong family suffered serious losses due to ass.ccsenet.org
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