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... more low-key and traditional. They rarely intervened in territory disputes or conducted business openly. Instead, they outsourced the management of their assets to more astute businessmen on a contract basis and directly collected dividends.

Ning Fuxun was one such savvy businessman. He managed businesses for the Hong Sect, accumulating his own capital, and then used that to generate further wealth. This was one of the reasons he managed to rise from nothing to become one of China’s top ...

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