Shanghai Sanbei Steamship Netherlands Litigation Yu Qiaqing’s grandson

Yu Qiaqing can make full use of his comprador status in the Dutch bank to borrow more money from the banking industry to develop Sanbei Shipping Company. Initially, three ships were purchased: "Cibei", "Yaobei" and "Zhenbei". The routes were from Shanghai to Ningbo and Shenjiamen...

Yu Qiaqing (1867-1945) was named Hede and had the courtesy name Qiamen. Qing was born into a poor tailor's family under Fulong Mountain, Cixi Town, Zhenhai County, Zhejiang Province. His father died of illness when he was 7 years old, and he lived with his mother Fang and his 3-year-old brother. The family was poor and lost the opportunity to study. Yu Shimin, a private school teacher of the same clan in the village, saw that Yu Qiaqing was smart and gentle, and thought that the child would become a great person in the future, so he accepted him as a student for free and taught him calligraphy and calligraphy. Yu Qiaqing later became the all-powerful man in Shanghai. Lay the foundation. After Yu Qiaqing became successful, he repaid his kindness and honored Teacher Yu Shimin as a distinguished guest so that he could spend his old age peacefully.

In 1881, 15-year-old Yu Qiaqing, with the help of his uncle Yu Qingyao, said goodbye to his hometown and took a boat to Shanghai to learn "business" (as an apprentice). On the day he went to report, he was walking halfway when it suddenly started to rain heavily. Yu Qiaqing immediately took off the new cloth shoes sewn by his mother and walked barefoot into Ruikang Dye Store with two shoes in hand. The owner, Boss Xi, laughed loudly when he saw it. He took Yu Qiaqing's hand with both hands and said repeatedly: "Okay! Okay!" It's strange to say that Boss Xi had a dream last night, in which he dreamed that the God of Wealth walked in with two ingots in his hands. Come home. Seeing Yu Qiaqing's appearance today confirmed the dream, which made Boss Xi laugh out loud. The story of Yu Qiaqing, the "Barefoot God of Wealth", is widely spread as a legend.

After many observations and assessments, Boss Xi of Ruikang Paint Store saw that Yu Qiaqing was quick-minded and shrewd, so he decided to reuse him and let him go out with the big guys to "run the streets" (contract business) to gain experience. . Once, Yu Qiaqing came to a foreign store and saw a batch of rusty paint boxes that were about to be sold at a low price. He carefully inspected the boxes and found that the iron boxes were rusted due to exposure to water during shipping, and the quality of the paint was not affected. After he reported it to Boss Xi, he "ate in" everything at a low price, making Ruikang Pigment Store a fortune. As an apprentice, Yu Qiaqing was paid 12 yuan for shoes and socks as usual at the end of the year, but Boss Xi added an additional 40 yuan to make him an exception and promoted him to Mr. "Street Runner".

Yu Qiaqing often goes to foreign banks and meets foreigners. Although he has learned a few words of "Pidgin" English in his work and life, he cannot read English, let alone write English. He spent his evenings studying English at a night school run by the British at the YMCA, where he made many foreign friends. Through hard and serious study, Yu Qiaqing can speak English with a fluent London accent and can read and write English. At the same time, he has learned German, Russian, and French. Yu Qiaqing can be said to be a genius in learning foreign languages. Yu Qiaqing has worked in Ruikang Paint Store for 12 years and worked hard for Ruikang Store, allowing the paint store to gain a firm position in the fierce competition. The store business has made progress. In order to win over Yu Qiaqing, Boss Xi gave him shares to become a shareholder. Thanks to the boss's cultivation, Yu Qiaqing invested 200 taels of silver and became a shareholder of Ruikang Store.

In 1895, the Qing government was defeated in the Sino-Japanese Sino-Japanese Sino-Japanese Sino-Japanese War and signed the Shimonoseki Treaty, which was humiliating and humiliating. The treasure island of Taiwan was ceded to Japan. In Shanghai at that time, foreigners were very arrogant and expanded their concessions across the border. The Qing government bowed to the foreigners and compromised, and intensified its oppression of the people. If Yu Qiaqing wanted to get ahead and do a big business, he still had to rely on foreigners. He jumped out of "Ruikang" and asked someone to recommend him to become a "running house" (deputy comprador) at Lulin Foreign Company, a German businessman. Yu Qiaqing is "well-known" and "well-fed" in Shanghai. He works very well and is highly appreciated by the president of the foreign bank. Soon, he was promoted to comprador. In addition to high salaries, the most important income for Chinese compradors is commission from buying and selling goods for foreign companies. Commission is a kind of reward from foreign companies to Chinese people for being compradors. Yu Qiaqing worked as a comprador for the German businessman Lulin Matheson for nine years, accumulated a large amount of wealth, and began to invest in Zhabei real estate industry. Yu Qiaqing keeps in mind the words of her mother: "Rely on your parents at home, and rely on your friends when you go out." Among his fellow Ningbo residents, he was willing to help others and solve their problems, especially shopkeepers from Ningbo who were often defrauded by foreigners in trade. He did not understand English and could not explain his reasoning clearly. They asked "Brother Ade to help", and Brother Ade was willing to help the shop owner negotiate with foreigners and fight for their rights. Yu Qiaqing had a good name and virtue, and people in Ningbo called him "Brother Ade". "Brother Ade" became famous. In 1897, the French Concession Public Administration Bureau forced the Ningbo Association to demolish the funeral parlor and cemetery located in the Siming Office of the French Concession in Shanghai on the pretext of expanding the road.

The actions of the French Concession authorities caused unrest for the souls of the dead and angered the people of Ningbo. On Chinese soil, Chinese people have the right to protect their ancestors. Chinese people, especially a large number of Ningbo people in Shanghai, united to protest against the demolition decision of the French Concession authorities. Adege Yu Qiaqing, who had a sense of national justice, did his part and cooperated with the Siming Office to launch protests and demonstrations, organize Chinese labor, and carry out strikes. Under the resolute resistance and struggle of the strong people, the French concession authorities withdrew the demolition decision, and the French consulate erected a stone monument to delineate the property and ensure that it would not be infringed again. Siming Gongsuo won. Yu Qiaqing's name became a household name in Shanghai and he became a tycoon in the business world.

In 1903, China-Russia Daosheng Bank hired Yu Qiaqing as the Chinese comprador. He entered the financial industry and banking world for the first time and interacted with high-level foreigners. In his financial transactions with foreign banks in China, Yu Qiaqing was shrewd, capable and efficient, which earned him high praise from senior foreigners in the banking industry. In 1905, the Dutch Bank urgently needed to hire compradors who were familiar with Chinese social conditions. Under the recommendation of foreigners, the Dutch Bank hired Yu Qiaqing with a large sum of money as a Chinese comprador to manage banking business. Yu Qiaqing worked diligently to expand the bank's business and gained huge profits, which earned him the trust of the Dutch head office. Yu Qiaqing worked at ABN AMRO for 22 years until he retired in his 60s.

When Yu Qiaqing was the comprador of the bank, the Boxer anti-imperialist and patriotic movement broke out in northern China in 1900. Britain, France, Japan and others formed an eight-nation coalition to invade China, invaded Beijing, and signed the "Xinchou Treaty". In 1901, the Gengzi Compensation Treaty was signed, with a total compensation of 450 million taels of silver. The Qing government was eager to pay and raise indemnities to various countries, so it had no choice but to borrow money from a group of banks formed by various countries. Sino-Russian Daosheng Bank and ABN Amro both participated in the fundraising banking group. Yu Qiaqing had the opportunity to participate in the loan work. She had a close relationship with the imperial ministers of the Qing Dynasty and made suggestions on how to negotiate, which attracted the attention of the Qing government. In 1906, the Empress Dowager Cixi promulgated the "Preparatory Constitution" and sent five ministers including Duanfang and Zaize to Japan for inspection. Yu Qiaqing was appointed to accompany the delegation. This gave him a better understanding of foreign industry and commerce. After returning to China, he went to the Empress Dowager Cixi and proposed that "the great powers use banks to exploit China and restrict the development of China's industry and commerce. In order to revitalize industry and regain rights, the Chinese must establish their own banks." This suggestion was adopted by the Qing government. Yu Qiaqing invited Zhou Jinzhen, Zhu Baosan and others, big capitalists from Ningbo, to initiate the establishment of Siming Bank with a capital of 1.5 million taels of silver. It was registered by the Ministry of Agriculture, Industry and Commerce of the Qing government. China's first private bank was officially launched on September 11, 1908, on Jiangxi Road in the British Concession. business, Yu Qiaqing was elected as director.

At the beginning of the 20th century, the water transportation from Shanghai to Ningbo was controlled by the foreigners Swire Shipping Company, Oriental Shipping Company, and China Merchants Shipping Company run by the bureaucrats. The high fares made Ningbo people very dissatisfied. Seeing a good business opportunity, Yu Qiaqing invited Yan Xiaofang and others to set up a joint-stock company with a price of 5 yuan per share. Many people from Ningbo bought shares and eventually raised 400,000 yuan. Ningshao Steamship Company was established in 1909. Yu Qiaqing served as General manager. In order to compete with foreign steamships, Ningshao steamship fares are cheaper than the other three steamship companies and the crew services are good, so both passenger and cargo transportation are booming. In order to defeat the Ningshao Company, the British Swire Shipping Company reduced the steerage ticket from one yuan to three cents, and gave away towels and soap, engaging in "loss-making competition", which caused the Ningshao Ship's business to plummet and become unsustainable. At the time of crisis, the Ningbo Association organized a ticket maintenance meeting to raise funds to subsidize support. Ningshao Company competed with foreign businessmen with low fares. This kind of competition "loses both sides." Finally, foreign shipping companies and Ningshao Company reached an agreement to balance ticket prices, and Ningshao Company gained a foothold in the shipping industry amid competition.

Three years later, Yu Qiaqing had conflicts with the company's major shareholders over the purchase of "Yongxing Wheel" and withdrew from Ningshao Company. In 1913, he founded the Sanbei Steamship Company as a sole proprietor with a capital of 200,000 yuan and moved its headquarters to Shanghai. Yu Qiaqing's financial management and investment are unique. To buy a boat, you need to pay 30% down. After sailing, you must pay off the boat payment year by year and use the boat to maintain it. If you use the boat as a mortgage to buy a boat, you can borrow 70% of the boat price from the bank. As long as the down payment is 30% in cash, 40% of the money can be used as the company's working capital. The more boats you buy, the richer the company will be. Yu Qiaqing can make full use of his comprador status in the Dutch bank to borrow more money in the banking industry to develop the Sanbei Steamship Company. Initially, three ships were purchased: "Cibei", "Yaobei" and "Zhenbei". The routes were from Shanghai to Ningbo and Shenjiamen, and from Shanghai to Zhenjiang, so it was called "Three North Steamship Company".

Soon after, he bought a 1,320-ton steel-hulled ship made in the Netherlands for 1 million yuan and sailed in the north and south coastal cities of Tianjin, Dalian, Qingdao, Ningbo, Fuzhou, Guangzhou and various Southeast Asian islands. In 1917, he founded the Ningxing Steamship Company and purchased the 3,439-ton "Ningxing" ship, specializing in shipping business from Tianjin, Dalian to Shanghai. In December 1918, Yu Qiaqing invested in the Hong'an Merchant Shipping Company, a Sino-British joint venture registered by British businessmen, and bought back the British shares. The two ships "Chang'an" and "Dexing" were acquired, as well as warehouses and docks, with a total capital of 450,000 yuan, and reorganized into Huashang Steamship Company. The capital was increased to 1 million yuan, and three new ships, "Wulin", "Zhijiang" and "Warwick", totaling 5,604 tons were purchased to continue operating the Yangtze River, coastal and ocean navigation.

Yu Qiaqing realized that "with the rise and fall of the shipping industry, docks and hotels are important." In 1916, the Hongsheng Terminal Stack Company was built. In order to repair the ships of the group company, the Sanbei Steamship Company Machinery Factory was established, which has a ship repair dock and can also manufacture small barges, barges and their ancillary equipment.

From 1914 to 1921, the Sanbei Group had formed the Sanbei, Ningxing, and Hong'an Steamship Companies, which owned 18 large ships and 45 small ships traveling along the coast of Zhejiang, as well as docks, warehouses, A joint shipbuilding and repairing enterprise with a capital of 3.2 million yuan and assets of ship terminal, warehouse and factory of 7 million yuan. Sanbei Group has become the largest Chinese shipping group in China.

At the beginning of the 20th century, China's semi-colonial and semi-feudal society was turbulent and the political situation was unpredictable. The Revolution of 1911 overthrew the feudal Qing Dynasty. Yuan Shikai usurped the achievements of the revolution. Sun Yat-sen led the second revolution. The National Defense Movement opposed Yuan Shikai's proclaimed emperor. Yuan Shikai died and a Beiyang warlord government emerged in Beijing. In order to compete for the power of the Beijing government and the local separatist forces, the three factions of the Beiyang warlords, the Zhili clique, the Anhui clique, and the Feng clique, have been fighting for a long time. There will never be peace. The people are in danger and the country is divided. In such a period of political turmoil, Chinese national capitalists have a very complex mentality in order to protect the industries and commerce they have founded and to deal with warlords, bureaucrats and local gangsters. They have a basic spirit of patriotism and love for the nation, and they demand the unity and prosperity of the country. On the other hand, in order to survive and protect their own industry and commerce, they borrowed the power of foreigners and established relations with warlords and bureaucrats. They know the truth that "officials are afraid of foreigners, and foreigners are afraid of common people." They also want to use the power of foreigners to suppress warlords, and the power of ordinary people to suppress foreign aggression and expansion. Yu Qiaqing received traditional patriotic education from an early age, grew up in the Shili Foreign Concession, was influenced by Western democratic ideas, experienced the Reform Movement of 1898, and was baptized by the bourgeois democratic revolution. During his long-term interactions with foreigners, he learned about how the foreign concession authorities governed the concessions and how they solved problems. Therefore, Yu Qiaqing has his own philosophy of life in a semi-colonial and semi-feudal society. In 1911, Yu Qiaqing supported the Revolution of 1911, provided houses for the secret activities of the Tongmenghui, sent people to protect the safety of Chen Qimei, the head of the Tongmenghui in Shanghai, provided 8,000 silver dollars for activities, and mobilized armed business groups to participate in the Shanghai Uprising. The Revolution of 1911 was victorious and the Nanjing Provisional Government was established. Yu Qiaqing raised more than one million yuan in the name of the Shanghai General Chamber of Commerce to solve the financial difficulties of the Provisional Government. Mr. Sun Yat-sen was very grateful for the support of Yu Qiaqing and others from the Shanghai Consortium.

After the failure of the Revolution of 1911, Yu Qiaqing was involved in the vortex of warlord struggle and supported the Beiyang government of the Zhili warlord Duan Qirui. Duan Qirui was appointed by the Beijing government in 1924 as president of the Shanghai General Chamber of Commerce and vice president of the National Chamber of Commerce. In May 1925, the capitalists of Japan's No. 7 Cotton Factory shot and killed Communist Party member Gu Zhenghong and injured more than 10 workers. This atrocity aroused great anger among the people of Shanghai. The Central Committee of the Communist Party of China decided to combine the labor movement and Citizens' struggles against the concession authorities were combined to hold anti-imperialist demonstrations. On May 30, more than 2,000 students from various schools in Shanghai demonstrated in front of Laozha's house on Nanjing Road, proposing "Boycott Japanese goods and prefer domestic products." Down with Japanese imperialism" slogan. British patrolmen opened fire on the crowd, killing and injuring dozens of people on the spot, resulting in the "May 30th Massacre" that shocked China and the rest of the world.

The Central Committee of the Communist Party of China decided to organize an anti-imperialist united front and launch a "three strikes" struggle. 200,000 workers in Shanghai went on a general strike, 50,000 students went on strike, and most businessmen went on strike. The Federation of Industry and Commerce, the leading body of the anti-imperialist movement, was established in Shanghai. Yu Qiaqing, president of the Shanghai General Chamber of Commerce, was indignant and believed that boycotting Japanese goods and favoring the use of domestic products was a patriotic movement that was "conducive" to the development of national industry, so he led the chamber of commerce to participate in the anti-imperialist struggle. When 200,000 workers go on strike, the most important thing is to solve the livelihood problems of 1 million workers and their families.

Li Lisan of the Federation of Trade Unions and Yu Qiaqing of the General Chamber of Commerce negotiated to "contribute forcefully, contribute money when available, support each other, and resolutely carry out the anti-imperialist struggle." In the name of the General Chamber of Commerce, he publicly published newspapers and called chambers of commerce, patriots, and overseas Chinese businessmen in major cities to appeal for donations to support Shanghai's anti-imperialist struggle. Yu Qiaqing took the lead in donating a huge sum of money, and donations came from all walks of life in Shanghai. Donations from business people from all over the world, overseas Chinese, and international workers' organizations came in a steady stream. In just over 10 days, donations to the Shanghai General Chamber of Commerce amounted to more than 2.37 million yuan, strongly supporting the "May 30th" anti-imperialist movement.

Imperialism and the Beiyang warlord government coerced and lured the national bourgeoisie and put pressure on Yu Qiaqing. Yu Qiaqing said that he was "determined to persuade all merchants to open the market as soon as possible" and "try to improve the situation." The Chamber of Commerce set up a "May 30th Committee" and proposed 13 articles that were in conflict with the 17 articles proposed by the Federation of Industry and Commerce. The revised 13 articles deleted 4 articles including the permanent withdrawal of the British and Japanese armies stationed in Shanghai. This was an article that was unacceptable to imperialism. The Chamber of Commerce made a temporary compromise, but retained the rights to safeguard the civil rights of the Chinese people, provide compensation for dead and injured workers, and punish those who caused the accident. British police officers and Japanese capitalists who shot Chinese workers; improve workers' working conditions; increase workers' wages, provide living allowances to striking workers, etc. The terms are sent to the Concession Negotiation Office and forwarded to the consular missions of various countries in Shanghai. The imperialist countries agreed that in order to ensure the privileges of imperialism in China, they could make major concessions on civil rights and the economy, and agreed to the conditions of the Shanghai General Chamber of Commerce. In order to preserve strength and meet the economic demands of workers, the Central Committee of the Communist Party of China decided to gradually resume work. The May 30th Movement formed a new upsurge in the anti-imperialist struggle.

In 1924, the Chinese Kuomintang held its first National Congress in Guangzhou. Sun Yat-sen determined the three major policies of "alliance with Russia, alliance with Japan, and support of agriculture and industry", reinterpreted the Three People's Principles, and made them the basis for cooperation between the Kuomintang and the Communist Party. The revolutionary united front was established, the National Revolutionary Army was established, and the Guangdong revolutionary base was consolidated. In March 1925, after the death of Sun Yat-sen, the great forerunner of China's democratic revolution, the Guangdong National Government was established. In 1926, the National Revolutionary Army embarked on the Northern Expedition. Chiang Kai-shek was appointed commander-in-chief of the Northern Expedition. They annihilated the main force of Wu Peifu's army on the two lakes battlefield and captured Wuhan. In the Jiangxi battlefield, the main force of Sun Chuanfang's army was annihilated and Nanchang was captured. The Northern Expeditionary Army on the East Route conquered Fujian, occupied Hangzhou, and advanced towards Shanghai. The successful march of the Northern Expedition prompted Shanghai business leader Yu Qiaqing to meet with Kuomintang military commissioner Niu Yongjian to discuss overthrowing Sun Chuanfang's rule in Shanghai and seizing power. Yu Qiaqing mainly wanted to retaliate against Sun Chuanfang for canceling his positions as Shanghai Commercial Port Assistant and Chairman of the Shanghai General Chamber of Commerce, so he tried his best to contact the Communist Party, launch a popular riot, and seize power in Shanghai. Luo Yinong, Secretary of the Shanghai District Committee of the Communist Party of China, and Chen Duxiu, General Secretary of the Central Committee of the Communist Party of China, advocated the establishment of a united front from the bourgeoisie to the workers and launched an armed uprising of workers. Chen Duxiu said: "The proletariat avoids the leadership position." "Even if the uprising succeeds, the workers will not participate in the political power." "We only seek the freedom of the people." Chen Duxiu advocated: "We can have two leaders now, Niu Yongjian is the military leader, and Yu Qiaqing is the leader. Leaders of the people." Yu Qiaqing and others raised funds for the uprising and supported three armed uprisings by Shanghai workers. On March 22, 1927, the workers' third armed uprising was victorious after 28 hours of fighting. Chen Duxiu gave a speech at the activist conference: "We have clearly seen the power of the proletariat. The big bourgeoisie is not revolutionary, and the petty bourgeoisie is in favor of revolution, but they will not do it. Therefore, the Chinese revolution can only come from the proletariat. Served. "The conference produced 19 members of the Shanghai Special Municipality Provisional Government Executive Committee, 9 Communists, accounting for the majority, and the proletariat took control of the Shanghai Municipal Government. Niu Yongjian and Yu Qiaqing are executive members. Soon, six representatives of the bourgeoisie announced their resignation as city government committee members and separated from the proletariat.

Shortly after the victory of the Shanghai workers’ armed uprising, Chiang Kai-shek arrived in Shanghai as the commander-in-chief of the Northern Expeditionary Army. Shanghai consortium Yu Qiaqing, Qian Xinzhi and others were very worried that Shanghai would be controlled by the Communist Party and workers, and they hung their fate on Chiang Kai-shek's chariot. Yu Qiaqing founded the Shanghai Securities and Exchange, China's first comprehensive stock exchange, on February 1, 1920, and served as its chairman. Generally, transactions on exchanges are handled by brokers. At this time, the "Hengtai Hao" composed of Chiang Kai-shek, Chen Guofu, Dai Jitao, etc. was one of the brokerage institutions of the Shanghai Stock Exchange. Chiang Kai-shek and others became brokers of the Shanghai Stock Exchange and engaged in speculative trading in various securities and cotton yarn. Chiang Kai-shek made a lot of money.

In the summer and autumn of 1921, the exchange suddenly collapsed and stocks plummeted. In February 1922, Chiang Kai-shek became pauper and heavily in debt. At that time, Chiang Kai-shek participated in the planning to cause trouble on the Shanghai Stock Exchange and attempted to embezzle 1 million yuan in remittances from Japanese businessmen. Yu Qiaqing asked "tycoon" Li Zhengwu for help. In the end, financial tycoon Ye Zhuotang intervened, and Yu Qiaqing paid 60,000 yuan from the exchange to solve the problem for Jiang. Chiang Kai-shek took the money he received, ended his economic speculation in Shanghai, and went to Guangdong to join Sun Yat-sen.

Chiang Kai-shek returned to Shanghai in glory, knowing full well that the actual controller of Shanghai was not the government, but the big businessmen and the boss of the underworld Qinghong Gang. If Chiang Kai-shek's power wants to gain a foothold in Shanghai and the country, it must be supported by Shanghai's large financial groups and receive huge military expenditures and funds for political activities. Upon arriving in Shanghai, Chiang Kai-shek stated to European and American countries: "The National Revolutionary Army is a good friend of the great powers and will never use force to change the status quo of the concession." On the evening of March 26, Chiang Kai-shek met with Yu Qiaqing, chairman of the Shanghai Federation of Chambers of Commerce, and Chiang said: " The Zhili Allied Forces completely withdrew to the north of the Yangtze River, and the Northern Expeditionary Army captured Nanjing. "I will never resort to force on the issue of recovering the concession. I hope the business community can rest assured." Yu Qiaqing received Chiang Kai-shek's guarantee to protect the property owners, as the chairman of the Chamber of Commerce. In the name, 3 million yuan was apportioned to the banks and money industry and handed over to Chiang Kai-shek, and the Business Federation "voluntarily donated" 5 million yuan to support Chiang Kai-shek's "4.12" coup.

"Adek" Yu Qiaqing is also the president of the National Association of Industry and Commerce, the president of the Shanghai General Chamber of Commerce, the chairman of the Shanghai Aviation Industry Association, the chairman of the Shanghai Securities and Articles Exchange, and the chairman of the Chinese Concession Taxpayer Association. , Director Hua of the Bureau of the Ministry of Industry, and President of the Chinese Association of the All-Country Merchant Group. "Business talks" does not involve politics. As a modern national industrialist and businessman, the interests of the national capitalists he represents are bound to have economic conflicts with foreign capital. He lived in the society of old China and had served as a comprador for many years. "Due to his position, he became increasingly close to outsiders. He was very familiar with the temperament and habits of outsiders. Therefore, when negotiating something, he was always able to neither be humble nor overbearing, and he could get a glimpse of important things." Self-preservation of the spirit of the people of a great country. "Society is a school that cultivates nationalism and patriotism, and can show a person's conscience and temperament on national and national issues. National capitalists have a side of weakness and compromise. Yu Qiaqing was able to participate in the struggle during the May 30th Movement and actively raised funds to support the workers' strike struggle. However, at the critical moment, he considered the interests of the capitalists, compromised with imperialism, and quelled the struggle. During the Shanghai workers' armed uprising, Yu Qiaqing started from the standpoint of a capitalist and planned a popular uprising in Shanghai with the Chinese Communist Party in order to overthrow the Zhilu warlord Sun Chuanfang. After the victory of the armed uprising, the Provisional Government of Shanghai Special Municipality led by the working class was established. He resigned as a member of the municipal government and joined Chiang Kai-shek, seeking to develop enterprises with the support of the Kuomintang regime.

After 1927, Yu Qiaqing retired as a comprador from the Dutch Bank and concentrated on the navigation business, becoming a famous figure in Shanghai. On Yu Qiaqing's 70th birthday in 1936, it was initiated by the Shanghai First Special Zone (public concession) Citizens' Federation. After discussion at a meeting of the Board of Directors of the Ministry of Industry and Commerce, Yu Qiaqing made contributions to "maintaining and promoting Sino-foreign relations." The meeting unanimously passed a resolution to rename "Tibet Road" after Yu Qiaqing, changing Tibet Road to Yu Qiaqing Road.

After the outbreak of the Anti-Japanese War, Yu Qiaqing flatly refused to serve as the mayor of the Shanghai puppet government, withstanding the threats from the Japanese secret service and the Wang puppet government. During the Anti-Japanese War, the population of the concession surged and food shortages caused panic. In order to stabilize food prices and stabilize society, the Ministry of Industry decided to ask Yu Qiaqing to raise food. Yu partnered with Italian businessman Teminazzi to organize the Sino-Italian Shipping Company. The ships flew the Italian flag. Italy was an ally of Japan, so ships transporting rice to Saigon, Yangon and other places to Shanghai were not subject to interference by the Japanese navy. Solved the crisis of food shortage in the concession. In fact, Yu Qiaqing secretly set aside a certain tonnage for himself to load rice every time he transported grain. After returning to Shanghai, the rice flowed into the black market at a high price, and he made 5 million yuan from it.

In the spring of 1941, when the war situation became urgent, Yu Qiaqing bid farewell to Shanghai and took a boat to Hong Kong. In 1942, he transferred to Chongqing. 76-year-old Yu Qiaqing organized the Sanmin Transportation Company in Chongqing with Wang Xiaolai and others, purchasing 300 Dodge trucks to transport hardware accessories and machines from Myanmar, Yangon, etc. for civilian use during the Anti-Japanese War.

On April 26, 1945, Yu Qiaqing died in Chongqing of acute lymphadenitis at the age of 79.