Abstract: From Chinese reform and opening up to the outside, Shanghai has achieved great economic accomplishment. And an important reason to Shanghai’s economic development is its special business culture tradition. Based on the perspective of institution, this paper analyzes the form and development of Shanghai Businessman and the rise of New Shanghai Businessman, discussing the role of entrepreneurship and social network capital. The conclusion indicates that Shanghai business culture promotes the development of Shanghai Businessman through entrepreneurship and social network capital. New Shanghai Businessman has a clear inherited characteristic with Shanghai Businessman, and rise by the way of affinity between the macro-social background of Shanghai and special trait of New Shanghai Businessman.

Key words: Shanghai businessman, new Shanghai businessman, entrepreneurship, social network capital