On June 25, 1915, the Taiwan Daily News published a report on the establishment of Hsin-Kao Bank, initiated by prominent Taiwanese industrialists such as Chen Chaojun, Lin Xiongzheng, and Li Yanxi. At that time, Taiwanese enterprises were often perceived as lacking business acumen. The report highlighted that Hsin-Kao Bank had hired individuals with banking management experience to ensure proper operation. The establishment of Hsin-Kao Bank was motivated by the high daily interest rates charged by moneylenders, which ranged from eight to ten cents. By founding a bank funded by tea merchants from Dadaocheng, the daily interest rate for financing could be reduced to between three and five cents.
