In the Wuxi Rong clan during the Republic of China, in addition to Rongzong Jing Rong Desheng, there was also a Rong Ruixin who had to be mentioned

Modern entrepreneur Rong Ruixin (1872-1922), a member of the Rongchunyi branch of the Rong clan of Liangxi in Wuxi, lived in Dongbang, Rong Lane, Wuxi, and was one of the pioneers of modern industry founded by the Rong family, and has an important influence on the history of China's national industrial development. At the age of 18, he was ordered by his father to go to Shanghai Rongguang flower practice.

Rongguang Flower Company was founded in 1860, with an original capital of 10,000 taels of silver, funded by Rong Yaoliang and Rong Jianzhou. Rong Jianzhou (1809-1863) was Rong Ruixin's grandfather. When Rongguang Flower Shop opened, the times were not very peaceful, and the bulk cotton purchase and sales channels were separated by the war, and the start was quite difficult. Fortunately, export demand was strong, cotton prices rose, and the flower shop business was able to develop rapidly. By the time Rong Weiheng (Rong Ruixin's uncle) inherited his father's business and took charge of the flower business, the flower shop entered its heyday and became one of the four largest flower houses in China at the end of the Qing Dynasty and the early Ming Dynasty.

Father Rong Weijun (1838-1908), let the son who was intelligent and intelligent to study in the flower industry, had his own long-term plans, he regarded his son as his natural successor to strictly cultivate, is to hope that he will be familiar with the shopping mall business as soon as possible, so as to inherit the ancestral business and carry forward. But eighteen-year-old Rong Ruixin saw a broader world in the Shili Yangchang on Shanghai Beach, a new future with greater opportunities and more challenges than the existing industry at home.

In 1890, the fledgling Rong Ruixin went to the foreign merchant Fengtai Foreign Firm alone, starting from an ordinary banker. First, he bought silk cocoons on behalf of foreign firms, sold cotton cotton cloth, and then sold foreign oil (kerosene) and coal. With the unique vigor and hard work of young people, coupled with many contacts with commercial banks in Wuxi, Suzhou and other places in the flower industry, Rong Ruixin has performed well and gradually emerged in the business world. By 1900, after ten years of training, with excellent business performance and shrewd ability, 28-year-old Rong Ruixin sought the position of agent of the British merchant Hongyuan Spinning Factory. With a total investment of 840,000 taels of silver, this spinning mill was already an industrial enterprise with a considerable scale at that time. Rong Ruixin worked in this position for five years, not only accumulating valuable experience in managing new-style industries, but also gradually accumulating the original capital invested in national industry and commerce.

In 1902, the brothers Rong Zongjing and Rong Desheng proposed to establish a flour processing enterprise using a new technology in their hometown of Wuxi, Baoxing Flour Factory (later the famous Maoxin Flour Factory), and Rong Ruixin gladly invested and played an important role in the early development of the factory. The total amount of funds raised in the early stage of the establishment of Baoxing Flour Mill 3. 90,000 silver dollars, divided into 13 shares, 3,000 yuan per share. Rong Ruixin holds three shares, which is the second largest shareholder, and his uncle holds one share.

In September 1904, Rong Ruixin joined hands with Shanghai business celebrities Zhou Shunqing, Zhu Lanfang and more than 30 other people to set up the Shanghai Chamber of Commerce, which was approved.

1905 was an important moment in Rong Ruixin's life path, and he did three major things in this year. He had just turned thirty-three that year.

In 1905, Rong Ruixin became a comprador of the British merchant Jardine Matheson & Co. and became the Chinese manager of this powerful foreign company.

In 1905, Rong Ruixin invited Zhang Linkui, Ye Shenzhai, Rong Zongjing, Ye Mingzhai and Rong Desheng, who were friends in Shanghai who were friends and friends doing business in Shanghai, to jointly establish the "Yudaxiang Business" in Shanghai. This "investment company" with extraordinary strength in Shanghai Beach at that time had a wide range of businesses, from the commercial distribution enterprises of foreign oil and foreign cloth, the insurance industry and the stock business, to investing in a series of industrial enterprises, such as spinning mills and flour mills.

In 1905, Rong Ruixin, in the name of "Please Eat Iftar", gathered a friendship in Shanghai Shousheng'an to discuss the establishment of a spinning factory in her hometown of Wuxi. Present at the meeting were: Zhang Shijun, comprador of Maosheng Foreign Firm, Ye Shengzhai, comprador of Siemens Foreign Firm, Bao Xianchang, shareholder of Dafengbu, Xu Ziyi, owner of Baokang Pawnshop, and Rong Zongjing and Rong Desheng brothers of Maoxin Flour Mill. Everyone agreed to raise 300,000 silver yuan to set up a Zhenxin spinning factory in Wuxi, with a real share capital of 270,800 yuan, and the above seven people each subscribed to a share and contributed 30,000 yuan.

For Rong Ruixin, 1907 was the first climax of his life's career: Shanghai (Yu Daxiang) and Wuxi (Maoxin, Zhenxin) were booming, and he played a leading role in these rong family-led undertakings.

The organizational structure of Zhenxin Spinning Mill is copied according to the model of Western joint stock companies, and the manager responsibility system under the leadership of the board of directors is adopted. Rong Ruixin personally serves as the chairman of the board and does not directly manage daily affairs. The original manager, Zhang Yunbo, even lived in Shanghai and ignored the company. Deputy manager Xu Ziyi does not understand production technology, poor management, half a year to accumulate more than 400,000 yuan in Yu Daxiang business, so that production is in a semi-stop state. In the second year, Rong Desheng was reappointed as the manager, and began to rectify the enterprise, optimize the cotton supply channels, save expenses, and reduce costs, and the enterprise gradually turned losses into profits.

The operation of Yu Da Xiang Firm began to be acceptable, but the owners lacked the necessary caution in the face of success and overly participated in speculative businesses such as fire oil stocks and rubber stocks. The business of the enterprise is thriving on the surface, but in fact it is lurking in crisis. In 1908, the stock price of foreign rubber companies held by YuDaxiang Firm fell sharply, and the losses were huge, and the creditors came to the door. Rong Ruixin, Rong Zongjing and others were very nervous about how to repay their debts, and once imagined selling the shares of Zhenxin Spinning Mill to repay their debts, and then through multi-party fundraising and relying on the unity of the Rong family, they survived the difficulties.

Mistakes and setbacks are the best teachers. Rong Ruixin gradually withdrew from the immature stock market full of fraud and speculation, and turned her main energy to business operations. With the deepening of Rong Ruixin's involvement in corporate affairs, the friction between the shareholders and operators of Zhenxin Factory has increased. In 1915, after more than ten years of successful cooperation, The brothers Rong Ruixin and Rong Zongjing had to break up due to differences in business policies. After the mediation of the patriarch Rong Fuling, the two sides decided to resolve the contradiction by exchanging shares. Rong Ruixin ceded his shares in the Maoxin Flour Mill to the Rong brothers in exchange for their equivalent stake in the Zhenxin Mill. In this way, each of them forms an absolute majority in the board of directors and ensures the centralization of corporate management.