The foreign merchants who relied on the unequal treaties of the Western powers and flocked to Shanghai with privileges not only monopolized the Shanghai shipping and controlled the Shanghai market for a long time, but also imposed some special preferential requirements on the Qing government to obtain more More profit. German businessmen enjoy bonded privileges for constructing oil terminals.
The German Swiss company that built the oil terminal was the first company in the country to enter Shanghai. As early as 1854, Shui Kee International Co., Ltd. went to Shanghai to set up a company to engage in import and export business. At the end of the 19th century, German industry and commerce rose, and German cargo ships to and from Shanghai Port increased significantly. In 1893, Ruiji Foreign Company purchased land near the Huazhan in Lujiazui, Pudong to build an oil terminal. This is Shanghai's first dedicated terminal for handling bulk oil tankers. At the same time as the construction of the wharf, German businessmen put forward the requirement of enjoying bonded privileges. The so-called bonded refers to goods imported by foreign merchants without paying taxes until they are sold off. In this way, they can obtain the convenience of storage insurance and the privilege of deferring tax payment. As early as 1843, the British government made this request, but it was not approved by the Qing court; after that, it was repeatedly raised, and it has been resisted by China. It was not until 1895 that China succumbed to foreign demands and allowed imported kerosene to postpone tax payment and enjoy bonded privileges. The first to obtain this privilege was the oil terminal of Ruiji International Co., Ltd. in Pudong. The terminal covers an area of 34 acres and has 3 oil storage tanks that can store 2500 tons of oil. There is also a large warehouse that can store 75,000 boxes of oil, with a fuel tank manufacturing plant, employing 600 workers, and can load 5,000 boxes of oil per day.
After the First World War, German businessmen's power in Shanghai plummeted, and the oil terminal in Pudong was also acquired by British businessmen.
[Source of information: Shi Zhiban]
From "Modern East Bund"
