Study On The Financial Thought And Financial Practice Of The CPC (1927-1949)

In 1927, the Communist Party of China established the first revolutionary base area, to set up their own banks, to develop financial industry during the Agrarian Revolutionary War period. During the War of Resistance Against Japan and the Liberation War period, The ideological and financial practice of the CPC has been to develop and improve. For this period the Chinese Communists on the financial thought of both the theoretical significance of which is of great practical significance. During Agrarian Revolutionary War period, after establishing their own bases, the CPC began to eliminate the loan sharks and destroy the old China's financial system began to establish the banks and credit cooperatives and set up a new financial system. During this period of financial work was issuing currency, for savings and loan business, such as issuing bonds.During the War of Resistance Against Japan , the CPC implemented the anti-Japanese national united front policy, the financial thought and practice of the CPC were changed.The CPC implemented the policy of interest rate cut. The anti-Japanese base areas had also issued currency, the financial aspects of business varieties more than the Agrarian Revolutionary War period, but more refined and institutionalized. Each base area under the leadership of Communist Party of China had also strengthened the management of foreign exchange and gold and silver in the area of monetary struggle.During the War of Liberation, the financial industry further developed and moved toward reunification. During this period, the main work was to adjust the financial unification of new and old liberated areas of financial organizations, develop new financial organization of the liberated areas. The liberated areas began to strengthen the management of all types of banks, cancel the right to issue currency of foreign banks, forbid the foreign currency circulation, strengthen the management of gold and silver. In 1948, the People's Bank of China began to issue Renminbi, and gradually establish a national unified monetary system and financial system.