The ancestors of the Rong family were all high-ranking officials, who once had a prominent family background, but by Rong Yiren's great-grandfather generation, the family began to decline. Rong Yiren's grandfather Rong Xitai entered the blacksmith's shop as an apprentice at an early age. As an adult, he worked as an accountant and a tour guide, barely supporting his family. Because of his poor family, Rong Xitai's eldest son, Rong Jingzong, had to drop out of school at the age of 14 and work as an apprentice in an iron anchor factory in Shinan District. Yes 1886. Rong Desheng is two years younger than Rong, studying in a private school, because his father has high hopes for him and thinks that he will be admitted to the imperial examination as a big official in the future. Rong Desheng doesn't think so. He always takes his brother as an example and wants to share his worries for his family as soon as possible. Three years later, 15-year-old Rong Desheng rocked into the noisy Shanghai from the closed suburb of Wuxi in a small wooden boat. On the recommendation of his brother, Rong Desheng entered Shanghai Tongshun Bank as an apprentice, while Rong worked as an apprentice in another bank. This laid a commercial foundation for them and their father to open a bank called Guangsheng in Shanghai Hongsheng Wharf a few years later. Safe management, never speculation, less than two years, the Rong brothers dug the first bucket of gold in life.

Just as business was booming, Rong Desheng went south to Guangdong, leaving Rong alone to manage the bank. He stayed there for a whole year, and Cantonese people were active in thinking, daring to explore and good at management, which greatly encouraged Rong Desheng. He found that the amount of flour imported from abroad was the largest, especially in the war years, and the market was very good, while the domestic flour mills were only Tianjin Yilaimou, Wuhu Yixin, Shanghai Fufeng and Zengyu operated by British businessmen in Shanghai. Rong Desheng saw the business opportunities in the flour industry. When he told Rong about this idea, the two brothers hit it off. In the first year of the 20th century, the Rong family business took a decisive step. On the eighth day of the second lunar month, Rong Desheng picked this auspicious day to break ground. This place is Taibaodun outside the west gate of Wuxi. It is named Baoxing, which means to ensure prosperity. This is the second modern enterprise in Wuxi history. 17 mu of land, four French stone mills, three wheat sieves and two flour sieves, all of which are the possessions of the flour mill.

During the eight years from 19 14 to 1922, the flour industry of Rong family developed rapidly, accounting for 29% of the total flour output in China at that time. This high speed is unique not only in China, but also in the industrial history of the world. By the time of the Anti-Japanese War, the number of flour mills of the Rong family had soared to 14, and nine textile mills had been derived.

"Red Capitalist", "Stick to stability, act cautiously and never speculate" is the legacy left by Rong Xitai to his two sons. The two brothers have always used this sentence to warn themselves, so they have established a good reputation in the mall. Whenever funds are scarce, some bank bosses in Shanghai even take the initiative to come to the door for help.

"Kong Jia and Song Jia were among the best financial capitalists in Shanghai at that time. Because of their close relationship, when money is tight, others can't borrow it, but rong family can borrow it. " Mark Feng, a professor of history at Renmin University of China, said.

The Rong brothers have different personalities. Rong Desheng is cautious and thoughtful, but he dares to take risks and act boldly. With the tacit cooperation of the two brothers, the pace of enterprise expansion of the Rong family has been accelerating, and factories have gradually spread all over the country from East China.

From 65438 to 0949, on the eve of the collapse of the Kuomintang regime, there was a great shock within the Rong family, and this year was also a watershed, which led to the low tide of the Rong family. The national government carried out monetary reform and price limit policy in the previous year, which soon led to serious inflation, buying frenzy and the gradual paralysis of Shanghai's economy. People in the Shanghai industry have emigrated overseas to seek new ways out. 1948165438+10. In October, Rong Hongyuan, the eldest son of Rong, was sentenced to probation by the Kuomintang government for arbitrage, and was only settled after paying one million dollars. His mood was low for a time. Soon, he sold the yarn machine equipment of Hongfeng No.2 Factory to Daan Cotton Mill, went to Hongkong to set up another Dayuan Cotton Mill, and finally went to Brazil, where he died at 190. His younger brothers Rong Hongsan and Rong Hongqing and Rong Desheng's sons Rong Er and Rong also left Shanghai one after another. The outflow of funds has greatly weakened the strength of Rongshi enterprises staying in the mainland. This made Rong Desheng very angry. "I have never done anything bad in my life. Why use it to escape abroad? " At the last minute, Rong Desheng and Rong Yiren decided to stay in the mainland after careful consideration.

After the liberation of Shanghai, Rong's enterprises faced difficulties, not only because of the shortage of funds, but also because of the shortage of raw materials. The state has given great support to Rong enterprises by issuing loans, supplying raw materials and purchasing processed products, and achieved new recovery. Rong Desheng and his son have deepened their trust in the producers of * * *. 1954, Rong Yiren took the lead in proposing to the Shanghai municipal government to implement public-private partnership in its industry, which played a positive leading role in the transformation of private industry and commerce in Shanghai, and thus was named "red capitalist".

"One of the fundamental reasons why the Rong family has always been so rich is that it is very good at handling relations with the government." A scholar who knows the Rong family well but does not want to be named said.