As the private banks mushroomed 40 years after Rishengchang's appearence in Shanxi, among them were five ally banks, generally named Wei associates, established by Hou Yinchang, a merchant from Shanxi. They were almost as influencial as Rishengchang. Hou then appointed Mao Honghui, former deputy shopkeeper of Rishengchang, who was fired because of its internal conflicts shopkeeper of Weitaihou, one of the five Wei associates enjoying equal popularity with Rishengchang.