The Development of Overseas Corporate Culture of Chinese Bank in the Qing Dynasty: A Case Study of Heshengyuan

The Heshengyuan (合盛元) Bank is a paradigmatic example of the Shanxi merchants (晋商) during the Qing Dynasty. Established in the early 19th century, the bank actively expands its domestic operations and takes the initiative to extend its services eastward. It establishes branches and subsidiaries in Korea and Japan, engaging in financial transactions. During its overseas expansion, the firm develops an innovative corporate culture that includes the following elements: a proactive approach to business expansion and the exploration of international financial territories; an astute awareness of customer demands, with a business strategy oriented towards market needs; and a policy of prioritizing the employment of young executives and the hiring of expatriate personnel. These culturally open and progressive corporate values facilitate Heshengyuan’s significant commercial influence within the East Asian region and bequeath a legacy of corporate ethos that serves as a valuable reference for subsequent generations.