Lei was born in a merchant family in Pingyao, when he was young, his family fell on hard times, he worked in various shops as a apprentice. Then he joined Xi Yu Cheng,a money shop, and was appriciated by Li (shop owner) who appointed him as the shopkeeper of the Beijing branch.

Before the 19th centry, money shops were suffered a lot from robbery happened repeatedly across China, the robbers foucused on the silver being delivered across vast distance. As Lei has realized the inconvience of transporting the sliver through long distance,and the cost of sliver exchange during export and import trade, Lei as a shrewd businessman, he also saw a business oppotunity. Therefore, an idea gradually formed in his mind. He persuaded his boss to start a new business specializing in sliver exchange.In 1823, the very first private bank in China - Rishengchang ( meaning the rising sun) was established.

Lei has devoted his life to Rishengchang until his death, and Rishengchang has played important role in modern Chinese banking development.