New Corporate Powers: The Accelerator of Imperial Malfunction
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This chapter documents the crude beginnings of Chinese cement manufacturing and the uneven path of its initial development. It opens in 1904, with the arrival of the new imperial Company Law. This allowed Western-type incorporated companies to be formed under China’s own laws for the first time in its long history. This chapter casts light on the many political problems with the imperial monopolies. Many problems of China’s early industrialisation before 1904 could be traced back to the absence of incorporation possibilities. Without this, it was impossible to offer Chinese people legal protection in the jurisdictional as well as proprietary interests of their businesses.