Research On Financial History Of Hunan Province During1927-1937

Since Late Qing Dynasty, dramatic political changes happened in Hunan province, especially, the Hunan army affected the finance formation of Hunan province. Immersed in such historical background, the government of Hunan province issued a lot of political policies about local finance and began to take some modernization attempts and innovations which were embodied in the reforms in tax system, the local financial system, the financial system. Although the local financial management was still in chaos, these attempts were progressive.To demonstrate the process of Hunan Province and explore the progress of financial modernization in Hunan Province and the impact of this progress, I will focus on the period of1927-1937, the early days of Nanjing National Government’s reign. In this period, Hunan regularized its local fiscal system, which was quite modern and advanced.The local revenue of Hunan consisted of land tax, deed tax, sales tax, especially the sales tax occupied mainly the local financial revenue of Hunan. The financial expenditure of Hunan mainly had administration fees, security fees, education and culture fees, etc. They were non-productive expenditures. Less investment to economic construction cannot produce relatively large tax revenue.The finance of Hunan had the socio-economic impact of positive and negative. In the conclusion, I would hope the history of financial modernization in Hunan province would provide enlightenment and giving some certain reference to the formulating of local finance to a certain extent.