The Forgotten 'Nanyang Gods of Wealth': A List of SME Overseas Chinese Shareholders Behind Amoy Electric Light and Water Companies in the 1920s
Introduction: The ‘Nanyang Bloodline’ of Urban Utilities In Xiamen’s journey toward modernization, the 1920s served as a critical pivot point. During this era, Xiamen transformed from a traditional consumption-based port into a modern industrial city. The driving force behind this metamorphosis was not colonial charity but the ‘capital reflux’ of Southern Fujianese overseas Chinese. Statistics show that overseas Chinese capital accounted for a staggering [80% to 90%] of Xiamen’s national industry during this time. Public utilities—electricity, water, and telecommunications—were almost entirely funded by overseas Chinese. While the names of Huang Yizhu and Tan Kah Kee are legendary, there was a vast group of small and medium industrialists, the ‘Nanyang Gods of Wealth,’ who stood behind these million-dollar ventures but have since faded into historical obscurity. ...