Li Shufu Li Shufu was a descendant of one of the "Eight Great Families" of early Tianjin, known as the "Li the Philanthropist" (Li Chuncheng), the nephew-in-law of Cao Kun, President of the Beiyang Government, and the son-in-law of Cao Rui, Governor of Zhili Province. During the occupation period, Li Shufu owned a significant amount of Kailuan stock, which was considered a "fast-moving commodity" with soaring prices at the time. He sold a large portion of his holdings. Since he never engaged in business himself, he entrusted all the proceeds to relatives and friends to manage, who set up many speculative trading companies. However, the accounts showed false profits and actual losses, and eventually, everything was lost.... Details+
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