The Recognition of Business
Until recently, in the long history of Chinese society, in social development agriculture has always been put at the top, while business has been given little importance.
However, in Shanxi, especially in its middle part, it has been a tradition for people to learn to do business since the Song Dynasty (960-1279). Shanxi people long believed that it was a good way to obtain wealth by trade, and then to purchase arable soil, or to invest in the finance and bank industry to generate more wealth.
Faithfulness and Honesty
Shanxi merchants believed that to be faithful and honest were the best ways to expand markets. According to business ethic principals, merchants are driven by profits, yet cheating and fraud is not allowed. Actually, faithfulness and honesty have long been at the core of Shanxi merchants' value view. This is also the reason why Shanxi merchants enjoyed their good reputation for such a long period. A Guanyutemple, which symbolizes honesty and justice, could be found in almost every town in Shanxi.
The Entrepreneurship
As has been mentioned above, the natural environment in Shanxi is rather harsh. So in the past, people had to leave their hometown to gain their living. They traveled throughout China to purchase commodities and then organized camel teams to trade with Mongolia, Russia, and even Japan. In this process the merchants had to overcome various obstacles such as different languages and, habits of life. Hence persistence and entrepreneurship was also critical for the success of Shanxi merchants.
Cooperation with fellows
Shanxi merchants believed that "harmony brings wealth." They competed with each other, while helping and looking after each other when needed as well. Since most of the Shanxi merchants had good faithfulness and honesty, they would believe in each other even in the most difficult times.
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