The Dayinggu Approach and Taizhou's Shareholding Cooperative System

Taizhou was the birthplace of contemporary China's shareholding cooperative system. Its prototype of shareholding cooperative system -- the Dayinggu approach -- came into being more than 100 years ago. The economy of Taizhou was underdeveloped and somewhat backward for a long time and the coastal residents had to rely on fishing to earn a living. Larger boats were better for fishing, but one household was often unable to afford a big boat independently, and therefore, the Dayinggu approach was adopted to solve this problem. It denoted an approach that pooled human, material and financial resources from a number of households for a big project. In this case, the fishermen combined more than one household's supply to acquire a larger boat. The profits from fishing would be distributed according to the amount of funds every household had provided. The mode of Dayinggu was in essence a shareholding cooperative system, and dividends were paid to shareholders according to the amounts they had invested. Having the basic elements of a modern shareholding cooperative system, the Dayinggu approach could thus be regarded as the origin of Taizhou's shareholding cooperative system.

Since 1949, the Dayinggu approach has consistently played an important role in Taizhou's development. During periods of depression in the collective agricultural economy, farmers and fishermen trapped in economic plight would turn to the Dayinggu approach to set up shareholding cooperative enterprises, and innovated the business operation system. The innovation and development of shareholding cooperative system in Taizhou can be roughly divided into three stages:

The first stage spanned from the 1960s to the late 1970s, when joint-stock enterprises were set up in secret. Some farmers in Taizhou established joint-stock enterprises such as the Hongwei Instrument and Meter Factory in Yuhuan. Such enterprises at that time were established in the name of collectives. In the 1970s, setting up business partnerships became a commonplace in Taizhou. 

The second stage started from the early 1980s, and these secret joint-stock enterprises began to operate openly. The implementation of the household contract responsibility system allowed farming households to take the initiative in managing agricultural production. This inspired more and more households to establish joint-stock enterprises.

The third stage was the period between 1984 and 1990 when the system was further developed. In 1985, the CPC Central Committee and the State Council issued Ten Policies on Further Invigorating the Rural Economy, in which joint-stock cooperation was encouraged officially for the first time. It thus endorsed the form of business partnership in Taizhou, provided policy support for Taizhou's shareholding cooperative system and promoted its further development.

In China's reform of the economic system, Taizhou's shareholding cooperative system differs from both the southern Jiangsu mode featuring collective operation and the Wenzhou mode characterized by individual and private operation. Underlying Taizhou's shareholding cooperative system is exactly the city's Hehe Culture.

“打硬股”與臺州式股份合作制

臺州是當代中國股份合作制的發源地。臺州歷史上就有“打硬股”的傳統生產方式，距今已有百余年歷史。臺州經濟曾長期落后，沿海漁民靠出海打魚為生。那時，小船打不了魚，大船才能多打一些，可一家一戶又沒錢造大船，于是臺州人就采用“打硬股”的方式。“打硬股”，就是多個家庭聚集人力、物力和財力來完成一件大事，比如幾個人、幾戶人家湊錢造一艘大船，大船出海獲得的收入，按各個家庭出資的多少進行分紅。這種“打硬股”的方式，在所有制上是股份制的，在經營方式上是合作經營的，在分配方式上是按股分紅的。可見，“打硬股”其實已經具備了現代股份合作制的基本要素，可以被視為臺州股份合作制的起源。

1949年后，“打硬股”在臺州一直沒有中斷過，每當農業集體經濟不景氣，農漁民生活困難時，人們就會聯合起來，采用“打硬股”的傳統方式創辦股份合作企業，實現企業經營制度的創新。縱觀臺州股份合作制的創新、成長過程，大致可分為三個階段：第一階段為20世紀60年代到70年代末的隱蔽創辦階段，臺州農民以股份形式創辦企業，如玉環的“紅衛儀表廠”，當時的股份合作企業是以集體企業的形式出現的，到20世紀70年代，合伙辦企業的現象在臺州已非常普遍。第二階段為20世紀80年代前期的公開創辦階段，隨著農村家庭聯產承包責任制的推行，農民生產經營自主權的增強，多家合股辦企業進一步發展。第三階段是1984年到1990年的發展階段，1985年中共中央、國務院頒布《關于進一步活躍農村經濟的十項政策》第一次明確提倡股份式合作，為臺州的“集體合作經營”正了名，也為臺州股份合作制的發展提供了政策依據，促進了臺州股份合作制的大發展。

在中國經濟體制改革進程中，臺州創建的以股份合作為主的企業制度，既區別于北面的以集體經營為主的“蘇南模式”，也不同于南面的以個體和私營為主的“溫州模式”。這種股份合作制的文化基礎就是臺州的和合文化。