Chapter 142: The Shanghai China Merchants' Bureau

“If you want to make it in this world, you always have to take some risks,” Huang Hua said, his eyes narrowing. “If you want peace and comfort, isn’t it better to go back to Lingao, be a nobody, sit in an office, and chase after girls? Why bother coming to this icy hell to eat beef old enough to be our grandfather? Think about it, if Old Lin hadn’t gone to work for Chief Zhu Hai, would he have the awesome status he has now?”

“That’s true. It’s good to be stationed outside, saves you from the criticism back in Lingao,” Wang Ruixiang said, stretching. “I think Shandong is pretty good. They’re going to build a manor in Zhaoyuan soon. When the time comes, I’ll apply for a permanent post there, get a few Shandong girls…”

“You think Landowner Lu will arrange that for you?” Huang Hua chuckled. “Even if you go, you won’t be the C-lister in the Shandong branch; that’s Landowner Lu’s spot. Besides, Traversers are a precious commodity in Lingao now. Every single one counts, and there aren’t even enough bodies to fill all the placeholder positions in various organizations. It’s doubtful the Executive Committee would let several Traversers cluster in one place. Zhu Mingxia is definitely going to be the commander of the Northern Detachment and will be stationed in Shandong for the long term. Adding you to the mix would make the Zhaoyuan setup way too luxurious.”

Wang Ruixiang thought about it and felt he had a point. He had always wanted an external posting to be a local potentate, but after considering several locations, he felt he was a bit too late for all of them. Looking at the most recently opened locations, there was almost nowhere he could be the sole person in charge. He couldn’t help but feel a little discouraged.

The Haitian stayed at Duozhi Island for a few more days, disinfecting all the cargo, especially the furs. Only then did she weigh anchor and depart. The ship first sailed to Jeju Island to replenish supplies and unload cargo. Furs, ginseng, and other pure transit goods were not planned to be shipped back to Lingao; they would wait in Jeju for transshipment to Dengzhou or Jiangnan. At the same time, the dozen or so servants Huang Hua had brought, along with Mao Shisan, were sent to the island for “purification.” Physical purification was secondary; the key was that Jeju Island was staffed with full-time personnel from the Political Security Bureau.

Although Mao Shisan was devastated, he was still forced to leave his paradise on Jeju Island. He was moved into a purification camp to await placement. However, he was “flagged,” as Huang Hua had specifically requested him. Therefore, the Political Security Bureau personnel conducted a priority investigation on him, which confirmed that Mao Shisan’s background was indeed clean, with absolutely no “historical issues.”

The one who was truly found to have “issues” was, as Huang Hua had speculated, Lan Bian. On Jeju Island, Lan Bian couldn’t withstand the round-the-clock, sleepless interrogation and finally confessed that he was a Booi of the Upper Three Banners. This time, he had been assigned by a Later Jin official to “infiltrate” Huang Hua’s side. His real name was Lan Dingbian. He was originally a soldier in Zhejiang, with the rank of Captain. He came to Liaodong more than twenty years ago when the court transferred guest troops to reinforce the region. He was captured in the Battle of Hun River in 1621.

After being captured, because he was strong, quick-witted, and skilled with firearms like muskets, he was quickly noticed by a Plain Yellow Banner Niru named Niohuru Yue and became his Booi attendant. Because the name “Dingbian” (Pacify the Border) was taboo for the Later Jin, the character “Ding” was removed. He managed to make a name for himself among the slaves. To win him over, Niohuru Yue had even given him a wife from among the distributed slaves a few years ago, and they had several children. They all now lived on the Niru’s estate, effectively as hostages.

As for the other servants, most were unremarkable. However, the Korean maid that Lan Dingbian had once recommended to him was also found to be an undercover agent. Her parents were in the hands of the Later Jin, so she naturally didn’t dare to disobey.

“If Ambassador Ao had just taken these few people directly back to Ao and thrown them into his mansion, what use would these spies be?” Feng Zongze said, looking at the investigation report sent by the Political Security Bureau. “Even if they were just dumped on Jeju Island, their mission would be a failure.”

“You don’t get it,” Huang Hua said. “Since I proposed opening a trading post, I naturally wouldn’t go as a lone commander. If I were to bring attendants, I would definitely prioritize these servants who are familiar with the local environment. Lan Dingbian is capable and competent, and the Korean maid can serve with her looks. Both had a high probability of being chosen by me to serve.”

“What if they weren’t chosen?”

“They’re just two slaves. If they’re lost, they’re lost. At worst, they could send a few more people. The Tartars were just using them as a speculative move anyway.”

“What do you plan to do with these two spies and the other servants?”

According to standard procedure, discovered spies were usually sent directly to the labor camps for “indefinite hard labor.” Huang Hua thought for a moment and said, “These two were both coerced. I think we can very well re-educate them—no, use them for counter-espionage, have them become double agents…”

“Are you that confident?”

“There’s a basis for it. I don’t think Lan Dingbian is simply a man who willingly serves a tyrant,” Huang Hua said eloquently. “I spoke with him several times on the ship. I feel he’s quite intelligent and has no great affection for the Manchus. He used to be a Captain in the Ming army, a legitimate military officer. After being captured, he debased himself to be a Booi slave for the Manchus. Do you think he’s happy about that? Besides, his wife and children are being held hostage. He has the potential to be turned. As for the Korean maid, the basis is even better.”

As for how to turn them, Huang Hua already had an idea. On the one hand, he would be open and frank with them, launching a direct psychological offensive. On the other hand, since the Haitian was originally heading back to Lingao, he decided to take them all back to Lingao for a “study tour.” Lingao was not only a “showcase” of the “Ao” lifestyle and power, enough to awe any native, but it also had a dedicated special propaganda team. They were the result of professionalizing and organizing the special propaganda personnel who had acted as agitators at various mass rallies. They had received specialized training in turning people and interpersonal propaganda, and were particularly “specialized” in inciting hatred. Having them carry out the work of turning the spies would be twice as effective with half the effort.

As for the other servants, he would no longer concern himself with them. They would be handed over to the Jeju Island authorities for purification and processing, and then placed accordingly.

The news that the Shen family’s four sand ships had returned from Japan shook the entire Jiangnan region.

Although the Shen family was not the first gentry household to send ships to Japan, they were the first to set out in winter. This was unprecedented. Traditionally, ships to Japan sailed in the summer with the southeast wind, but the Shen family’s four ships had set sail with the northwest wind. To many, this seemed like madness; who knew where the ships would end up? Many predicted that Shen Tingyang had been deceived and that not a single one of his four ships would return.

As a result, many rumors spread that Zhao Yigong, who had instigated the Shen family to create a “joint-stock company,” was a questionable character. Zhao Yigong came from Guangdong and sold a large quantity of “Australian goods,” all of which suggested his origins were not legitimate. He was likely a great pirate colluding with the legendary Kun thieves.

Although the prominent gentry dismissed such talk with a laugh, most had little confidence that the four ships, so easily talked into this venture, would ever return. Who would go to do business in Japan in the dead of winter?

Unexpectedly, in just two months, the Shen family’s four ships returned. Not only did they return, but they also brought back a large quantity of genuine Japanese goods: silver, Japanese copper, dried seafood, and various Japanese sundries.

The moment these goods were unloaded in Shanghai, the whole city was abuzz. Then Suzhou Prefecture, Songjiang Prefecture… all the way to Hangzhou Prefecture. Half of Jiangnan was in an uproar.

Doing business overseas was not too rare among the gentry of Jiangnan. However, the business was extremely risky. Equipping a ship and filling it with cargo cost ten to twenty thousand taels of silver. A round trip took more than a year, and there was always the chance the ship would disappear without a trace. The invested silver would be completely lost. Therefore, not many were willing to engage in this maritime trade.

Everyone knew that a single successful trade trip to Japan could bring back mountains of silver. For a time, Shen Tingyang’s threshold was worn down by visitors. People came to pay their respects from morning till night. Chongming County, once an inconspicuous county under Suzhou Prefecture, now became a bustling place that many people took boats to visit.

Amidst the clamor and commotion, Zhao Yigong had quietly traveled from Hangzhou to Shanghai and hidden himself in the small courtyard of the Qiwei Inn.

This maritime trade venture was just a small test. It was less about doing business and more about building confidence for further cooperation with Shen Tingyang and other gentry merchants interested in overseas trade. Because his next step was to use the Shen family’s ships and the silver of the Jiangnan gentry to form one of the most famous enterprises of modern Chinese history: the China Merchants’ Bureau.

The China Merchants’ Bureau was a well-known name. In the old timeline, it was founded in the eleventh year of the Tongzhi reign, at the suggestion of Li Hongzhang, to resist foreign steamships. The proposal was to “approve government-built merchant ships, to be leased by Chinese merchants, and to allow them to transport grain tribute, so that they would have a dedicated business and not be squeezed out by foreign merchants.” It was approved for trial by imperial decree, and began operations with funds borrowed from the Beiyang fleet and additional capital raised from merchants.

Such “foreign affairs” enterprises of the late Qing Dynasty were often plagued by bureaucracy. The officials in charge often used them as a means of self-enrichment, so their management was generally very poor, and they suffered heavy losses. The Qing Dynasty hadn’t even fallen yet, and this enterprise had already been restructured several times. It only began to see improvement after the establishment of the Republic.

However, the company’s concept of raising capital from merchants was very much in line with Zhao Yigong’s business philosophy of “borrowing a hen to lay eggs,” so he shamelessly appropriated it for his own use.

The new enterprise, Zhao Yigong decided, would be called “China Merchants’ Bureau Co., Ltd.”

In Zhao Yigong’s own plan, the final form of the China Merchants’ Bureau was a large conglomerate encompassing shipping, banking, insurance, real estate, and trade.

However, in the plan currently submitted to the Planning Commission, the China Merchants’ Bureau only included three business directions: shipping, trade, and shipping insurance. Banking and financial services would still be handled by Delong.

As for the initial capital, Zhao Yigong planned to publicly raise shares from the gentry and merchants of Jiangnan. This type of share was the non-cumulative preferred stock that Wu Nanhai and the Wudaokou group had discussed. The plan was to raise fifty thousand taels of silver in the first phase. In addition to being used for trade with Japan, these funds would also be used for port improvement, warehouse construction, and commercial real estate development in Shanghai.