Commercial Press (1897 – Present) (商务印书馆) is a publisher active in China from the late 19th century to present. It is considered to be China's first modern publisher. The Shanghai based press was founded in 1897 by Xia Ruifang who received venture capital from a Japanese firm. The firm immediately started amassing a collection of rare books which it republished using modern presses. It also introduced numerous periodicals ranging form the Eastern Miscellany (東方雜誌) to Youth Magazine (少年雜誌). It proved quite successful and, in 1914, Xia Ruifang attempted to buy out his Japanese investors. This resulted in his assignation shortly afterward. Nonetheless the press became a wholly Chinese organization. During World War II, during the January 28th Incident, the press and its collection of rare books was destroyed by Japanese bombers. Even so, by this time the press had expanded to multiple offices, including branches in Singapore, and was able to continue operating. The press remains in operation today and has become a large international concern focused on the publication of Academic works. They now publish under the imprint Commercial Press International Limited.