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Li Yongshang (1860-1953) was a shipping industrialist and banker in the late Qing Dynasty and the Republic of China.
Li Yongshang (1860-1953) was a shipping industrialist and banker in the late Qing Dynasty and the Republic of China. Born in Zhenhai County, Ningbo Prefecture of the Qing Dynasty (now part of Beilun District, Ningbo City). It comes from the Li family in Xiaogang, with the name Houyuan and the courtesy name Yongxiang. In 1886, he went to Shanghai to make a living. In his early years, he worked as an apprentice on the Jiuda Shachuan No. and was later promoted to manager, operating Yangtze River shipping and maritime trade. In 1905, he invested in the emerging bank industry in Shanghai and opened Huiyu Bank. Li Zuqing, the grandson of Li Yeting, a co-owner of the partnership, opened Tongyu Bank in 1903, and Li Rushan opened Lunyu Bank in 1906, establishing a family-style network of "Yu" banks, which was the prototype of modern Chinese national network banks. However, six "Yu" money banks went out of business one after another between 1911 and 1912.
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