Nieh Tzu-chung

Nieh Tzu-chung was a Chinese merchant and statesman whose personal wealth amounted a hundred million cash. He lived during the reign of Chinese emperors Ch’eng (33-7 BC), Ai (7-1 BC), and Wang Mang running a thriving trade business. Around 10 AD Nieh Tzu-Chung was employed as a Higher Subordinate Official of the Communicator as part of Wang Mang's five equalizations and six monopolies. The Five Equalizations and The Six monopolies were systems introduced during the reign of Emperor Wang Mang. The goal of the Five Equalizations system was to prevent the undue raising of prices in the Empire by establishing government storehouses at the marketplaces in the six central cities of the Empire, and buying surplus commodities and selling them in times when the price rose more than one cash above a set price. The Six Monopolies was, on the other hand, a system of taxation and state enterprise after which the sale of fermented drink, salt, iron and implements made from it, coinage, game, wild honey, etc. from the mountains and wastes, and fishing, etc. from the streams and marshes were made government monopolies. Through trade and the civil service Nieh Tzu-chung managed to accumulate great riches and social prestige in contemporary China.