Thus, economic activities mostly came from the settlements of Han Chinese immigrants. The most significant economic development during this time period was Taiwan's exclusive trade with China, mainly merchants from Fujian and the establishment of irrigation systems and hydraulic engineering projects. Exports included rice, sugar, jutes, rattains, and camphor wood while goods such as cotton fabric, cloth, silk, paper, agricultural equipment, wine and porcelain were imported. Commercial activities continued throughout major trading ports. Tainan, Lukang, and Banka became the three largest cities in Taiwan. After 1860, Tamsui and Anping were opened to the Europeans under the Peking Treaty between the Qing dynasty and the British Empire. The Europeans came to trade with Taiwan and Taiwan began to reintegrate itself in the global economy. Unfortunately, the openness of trade reduced the importance of China as Taiwan's trading partner and Taiwan's rice exports would lose its competitiveness to Southeast Asian rice exports. Despite high profits, trading was speculative and high risk resulting many businesses to go bankrupt. Old-fashioned Chinese business management systems would unable to compete with the modern Western management system. Taiwanese merchants soon learn European management practices and began to start their own businesses. Taiwanese merchants were learn the practices so proficiently and adeptly, they soon began to excel over the European trading houses. By the end of the 19th century, Taiwanese merchants dominated Taiwan's import-export trade and accumulated large sums of profits through commercial relations with China, England, and the Netherlands. Some merchant families such as the Lin Pun-Yuan family who traded domestically and internationally even established their own local banks and money exchange houses to lend money to local producers. In 1881, 90 percent of Taiwanese tea was exported by Taiwanese merchants and they also dominated the camphor and sugar, as well as the opium and textile trade. As a result, Taiwan began experiencing a commercial revolution prior to Japanese occupation in 1895. Japanese capital flooded into Taiwan and large Japanese-owned firms would overshadow the Taiwanese firms paving the way for Taiwan to achieve full-blown capitalism. As a result, Japanese colonial intentions were made to modernize the island's economy, industry, and public works rather than exploitation, subjugation and oppression. New and advanced ideas, concepts, inputs and values were introduced to the Taiwanese from the Japanese through its own process of modern industrialization. Taiwan would soon modernize its infrastructure through several public works projects such by establishing railway and shipping lines, telegraph and telephone systems, shipyards, and public education to prepare the country for further development.