Dairen: 1936

The South Manchurian Railway Company, formerly the largest economic enterprise in Manchuria and the main agency of Japans penetration, was organized shortly after the Russo-Japanese War. It undertook construction of towns, harbors, mining, utilities and trade. When a competing Chinese railway network threatened their monopoly, the Japanese Kwantung army staged the Manchurian Incident and set up the state of Manchukuo. At the end of World War II, China expropriated the company's vast property.

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