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A Study on the Backgrounds and Operation of Foreign Capital Firm Foundation in the Northeastern Region of China - With a focus on the Manchurian Cotton Mills Corporation in the 1920s

  • 중앙사론
  • 2014, (40), pp.251-287
  • Publisher : Institute for Historical Studies at Chung-Ang University
  • Research Area : Humanities > History

Kim Ji Hwan 1

1인천대학교

Accredited

ABSTRACT

The northeastern region of China was a traditionally very important export market for the Japanese cotton textile industry. As the Chinese cotton textile industry made huge development during the First World War and rapidly supplied cotton goods to the region, however, they started to restrict the Japanese cotton goods in the region. Furthermore, the Chinese government raised the customs duty right after the WWI and contributed to the fast loss of competitive edge in pricing of Japanese cotton goods exported to the northeastern region of China. Under the background, the Japanese cotton textile industry finally made direct capital investments into the region, set up cotton textile companies, and started to produce cotton goods in the region. That change gave birth to the first cotton textile company founded by the Japanese capital in the region, Manchurian Cotton Mills Corporation. Manchurian Cotton Mills Corporation received active supports and sponsorship from the Japanese government from the foundation to management. The Japanese government made capital investments into the corporation by purchasing stocks through its state policy company, South Manchurian Railway Corporation, offered a part of its railroad zone as a site for the corporation at a low cost, and supplied the coal produced by the Fushun Colliery Company to the corporation. In addition, it extensively carried out a project of increasing the production of and making improvements to raw cotton in the northeastern region of China for the convenience of raw material procurement. Having access to the active supports of the Japanese government, the Manchurian Cotton Mills Corporation was able to go through the foundation and management stages within a short period of time. In the increasingly worsening China-Japan relations right after the end of WWI, however, the corporation could no longer maintain its smooth management on the back of supports from the Japanese government. Both the Chinese government and people had hostility against Japan and developed an anti-Japanese movement. The worsening China-Japan relations emerged as a new obstacle to the management of the Manchurian Cotton Mills Corporation enjoying the supports of the Japanese government.

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* References for papers published after 2023 are currently being built.

This paper was written with support from the National Research Foundation of Korea.
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