清末,镇江是通商口岸城市。作为长江中的港口,镇江轮船运输业有得天独厚的发展条件,却只能借助洋行的特权庇护艰难求生。“挂洋旗”现象揭示了官府、洋行和华商以不同的方式谋取这个行业的利益。本文从这个三方利益格局中,剖析了近代民族资本主义难以发育的制度根源。 At the end of Qing Dynasty, Zhenjiang was a port city of commerce and commerce. As a port in the Yangtze River, Zhenjiang shipping industry has unique conditions for development, but can only rely on the prestige of foreign firms to shelter hard to survive. The phenomenon of “hanging flags” reveals that the government, foreign firms and Chinese businessmen seek the interests of this industry in different ways. In this tripartite interest pattern, this paper analyzes the institutional roots of the modern national capitalism is difficult to develop.