After finishing his preparatory education in Shanghai, Ch'ien Y. M. attended the Kobe Commercial College from which he graduated.
Upon returning From Japan, he entered the banking business, becoming manager of the Shanghai branch of the Bank of Communications and up to 1922 Mr. Ch'ien held the following positions: vice-president of the Shanghai Bankers' Association, director of the Chinese General Chamber of Commerce, director of the Peking Bankers' Association, director of the Hua Feng Cotton Milt in Shanghai, director of the Poo Tung Electrical Works Company, director of Southeastern University in Nanjing, director of Chi Nan College and director of China Vocational Educational Association.
From 1922 to 1925 Ch'ien Y. M. served as a vice-president of the Bank of Communications. In April, 1928, he was appointed a member of the commission for the discussion of China's finance. In 1927 Mr. Ch'ien held the post of a vice-Minister of Finance in the National Government. Then he holds the following positions: president of the Joint Savings Society, director of the Central Bank of China, managing director of the Bank of Communications, residential director of the Zhejiang Industrial Bank, supervisor of the Zhejiang Provincial Bank, supervisor of the Kincheng Banking Corporation, director of the Bank of Agriculture and Labor, managing director of the Manufacturers' Bank of China, director of the Shanghai City Bank, general manager of the Banque Franco-Chinoise pour le Commerce et l'Industrie, general manager and director of the Chunghsing Mining Administration Co., president of the Tai Shan Brick and Tile Co.
Then Mr. Ch'ien also held the following positions: director of the Sin Wan Pao, vice-president of the China Express Co., director of the China United Assurance Society, director of the Eastern Life Insurance Co., trustee of the St. John's University, trustee of the Shanghai College of Law, director of the China Vocational Educational Association, trustee of the Shanghai North Public School, trustee of the National University, Peking, trustee of the Nanyang Middle School, trustee of the Nanyang Model Primary School, vice-council chairman of the Red Cross Society of China, director of the Chinese Ratepayers Association, member of Zhejiang Provincial Government, Commissioner of Finance of Zhejiang Province and member of reconstruction committee of the National Government.
He was appointed Minister to France in December, 1930, but did not proceed to the post.