Dongting Group 洞庭商幫

The Dongting Group took its shape during the reign of Emperor Wanli (1573-1620) of the Ming Dynasty. It consisted of merchants from the peninsular Dongting East Mountain and the island Dongting West Mountain near Taihu Lake in southwest Suzhou City, Jiangsu Province. The two mountains, known as today's Dongshan and Xishan Towns in Wu County, only cover an area of about 170 square kilometers. However, it was this small area of land that nurtured the esteemed Dongting merchant group which became a mainstay force of the Jiangsu clique. 

The Dongting group excelled in sizing up the situation to find emerging business opportunities and adjust their operation strategies accordingly. Instead of involving themselves in the fierce competition in salt and pawn-broking sectors with the Huizhou and Shanxi natives, they specialized in the trade of grain, silk and clothing based on the favorable conditions created by the geographical location of the lake and abundant resources nearby. They also adapted to the times, launching banking operations and cotton yarn mills in the financial hub of Shanghai after the Opium War, thus setting the country on its path to economic industrialization.

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