Capital Flow Behind the Flag of Overseas Chinese: Remittances and the Birth of Xiamen's Modern Urban Prototype
Introduction: The Leap from a Fishing Village to a Modern Metropolis Xiamen, once an isolated island known as Jiahe Islet, saw its major turning point with the opening of the treaty port in 1843. However, looking through the lens of digital local chronicles, Xiamen’s rapid metamorphosis from a consumption-based traditional port to a modern city was primarily driven by the massive capital reflux of “remittances” from overseas Chinese, rather than just the influx of foreign firms. ...