12 Facts About Sheng Xuanhuai

Sheng Xuanhuai was a Qing dynasty Chinese tycoon, politician, and educator.

Sheng Xuanhuai founded several major banks and universities and served as Minister of Transportation of the Qing Empire.

Sheng Xuanhuai's father was a close friend of General Li Hongzhang.

In 1870, Li appreciated Sheng Xuanhuai's talent, employed him as his aide and soon became his chief economic deputy.

Sheng Xuanhuai recommended that Li build more merchant ships in order to fund the military ships that the Qing government needed.

Sheng Xuanhuai's suggestion was accepted and from then on Sheng Xuanhuai became well known for his career in ship building.

Sheng Xuanhuai's influence was mainly felt in the southern part of China, specifically in Shanghai.

Sheng Xuanhuai created eleven "first", including the first modern bank, first telegraphy company, the first iron and steel joint enterprise.

In 1897, official Sheng Xuanhuai founded the Imperial Bank of China, the first Chinese owned commercial bank modeled on the Western banking system.

Sheng Xuanhuai was a founder and the first president of the Red Cross Society of China, and is widely considered one of the key officials behind the then fledgling movement alongside Shen Dunhe.

In 1911, Sheng Xuanhuai was appointed head of the Board of Posts and Communications, a high rank in the Imperial cabinet during the Qing dynasty, until the dynasty fell in 1911.

In Shanghai, Sheng Xuanhuai lived a mansion constructed in 1900 at No 1517 Huaihai Zhong Lu.