|
Fabi (currency)
The Chinese National Currency (CNC), often transliterated as fapi or fabi or translated as Legal Tender Note, was the currency of China between 1935 and 1948. Introduced in the 1935 currency reform, the currency was initially issued by the Central Bank, the Bank of China, the Bank of Communications and later the Farmer's Bank of China. In June 1942, it became solely issued by the Central Bank. It was replaced by the Gold Yuan in August 1948. See also * Central Bank of China * Chinese hyperinflation The Chinese hyperinflation was the hyperinflation, extreme inflation that emerged in China during the late 1930s, extended to Taiwan after the Surrender of Japan, Japanese surrender in 1945, and concluded in the early 1950s. In the 1935 currency ... Note {{notelist References Currencies of China Currencies introduced in 1935 Modern obsolete currencies Economic history of China ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Republic Of China (1912-1949)
Taiwan, officially the Republic of China (ROC), is a country in East Asia. The main geography of Taiwan, island of Taiwan, also known as ''Formosa'', lies between the East China Sea, East and South China Seas in the northwestern Pacific Ocean, with the China, People's Republic of China (PRC) to the northwest, Japan to the northeast, and the Philippines to the south. It has an area of , with mountain ranges dominating the eastern two-thirds and plains in the western third, where its Urbanization by country, highly urbanized population is concentrated. The combined Free area of the Republic of China, territories under ROC control consist of list of islands of Taiwan, 168 islands in total covering . The Taipei–Keelung metropolitan area, largest metropolitan area is formed by Taipei (the capital), New Taipei City, and Keelung. With around 23.9 million inhabitants, Taiwan is among the List of countries and dependencies by population density, most densely populated countries. Tai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chinese Gold Yuan
The Chinese gold yuan (also known as golden round, golden yuan, among others) was a legal tender currency of China between August 1948 and 1949. It was a method used by the Republic of China government to accumulate gold from its citizens in preparation to relocate to Taiwan. It circulated in the country under the effective control of the Government of the Republic of China, which issued paper money on August 19, 1948. This currency was notorious for vicious inflation due to inadequate issuance preparation and failure to strictly enforce issuance limits. In the early days of the issuance of the golden yuan, the government used executive actions to force the public to exchange gold and foreign currency for the new currency. The legal exchange rate was 0.22217 grams of gold per gold yuan but it could not be honored. The sharply depreciating fabi currency was at the rate of one golden yuan of the yen to 3 million fabi yuan, and this rate was used for the compulsory collection of pub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of The Historian
The Office of the Historian is an office of the United States Department of State within the Foreign Service Institute. It is legally responsible for the preparation and publication of the official historical documentary record of U.S. foreign policy in the '' Foreign Relations of the United States'' series, which can be accessed at its website. It researches and writes historical studies on aspects of U.S. diplomacy for use by Department of State employees and the public. The office makes recommendations to other bureaus regarding the identification, maintenance, and long-term preservation of important historical diplomatic records. Its outreach activities include participating in the planning and installation of the historical components of the department's planned United States Center for Diplomacy, counseling private scholars and journalists on historical research issues, and responding to government and public inquiries on diplomatic history questions. List of Directors o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiat Money
Fiat money is a type of government-issued currency that is not backed by a precious metal, such as gold or silver, nor by any other tangible asset or commodity. Fiat currency is typically designated by the issuing government to be legal tender, and is authorized by government regulation. Since the end of the Bretton Woods system in 1976 by the Jamaica Accords, the major currencies in the world are fiat money. Fiat money generally does not have intrinsic value and does not have use value. It has value only because the individuals who use it as a unit of account or, in the case of currency, a medium of exchange agree on its value. They trust that it will be accepted by merchants and other people as a means of payment for liabilities. Fiat money is an alternative to commodity money, which is a currency that has intrinsic value because it contains, for example, a precious metal such as gold or silver which is embedded in the coin. Fiat also differs from representative mone ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1935 Currency Reform
The 1935 currency reform was a monetary policy announced by the Nationalist Government of the Republic of China on November 4, 1935. This reform marked the abandonment of the silver standard and the adoption of a gold standard, introducing the Chinese National Currency (CNC, or Fabi) as the unified national currency. The reform aimed to stabilise the economy by standardising the currency system under central government control. Background Silver craze Due to the Great Depression in 1929, global agricultural prices plummeted, worsening the disparity between the prices of industrial and agricultural products in rural China. This imbalance led to a flow of silver from rural areas to smaller cities and eventually into larger urban centers, which then faced an excess of capital. As countries like Britain and Japan abandoned the gold standard and enacted competitive devaluations to establish trade barriers, global silver prices began to rise. This increase triggered significant silv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of China
The Central Bank of the Republic of China (Taiwan), known from 1924 to 2007 as the Central Bank of China and still referred to under the acronym CBC, is the central bank of Taiwan. Originally founded in 1924 in Guangzhou, the CBC was expelled from Mainland China by the Chinese Communist Revolution in 1949 and relocated to Taiwan. It took over banknote issuance on the island from the Bank of Taiwan in 1961. Its legal and common name in Chinese is literally translated as the "Central Bank". The central bank is administered under the Executive Yuan of the ROC government. History Mainland China (1924-1949) The CBC was originally proposed in 1923 by Sun Yat-sen's Army and Navy Marshal stronghold of the Republic of China and was established in Guangzhou a year later, serving the Nationalist government from 1925. Following the success of the Northern Expedition, the CBC relocated to Shanghai and its head T. V. Soong negotiated a division of labor with the Bank of China ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of China
The Bank of China (BOC; ; Portuguese language, Portuguese: ''Banco da China'') is a state-owned Chinese Multinational corporation, multinational banking and financial services corporation headquartered in Beijing, Beijing, China. It is one of the "Big four banks, big four" banks in China. As of 31 December 2019, it was the second-largest lender in China overall and ninth-largest bank in the world by market capitalization value, and it is considered a Systemically important financial institution, systemically important bank by the Financial Stability Board. As of the end of 2020, it was the List of largest banks, fourth-largest bank in the world in terms of total assets, ranked after the other three Chinese banks. The Bank of China was formed in 1912 by renaming the Qing dynasty's Da-Qing Bank (est. 1905) under the newly established Republican government. Until 1942, it issued banknotes on behalf of the government as one of the "Big Four" banks of the period, together with the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Communications
Bank of Communications (BOCOM or BankComm) is a Chinese multinational banking and financial services corporation. It was originally established in 1908 and was one of a handful of domestic Chinese banks that issued banknotes in modern history. Following the Chinese Communist Revolution in 1949, the mainland operation of that bank were merged into the People's Bank of China and People's Construction Bank of China under the Communist single-tier banking system, while its continuation in Taiwan eventually became part of Mega International Commercial Bank. In 1986, the Bank of Communications was revived in the mainland as a commercial credit institution. It was listed on the Stock Exchange of Hong Kong in June 2005 and the Shanghai Stock Exchange in May 2007. The Bank was ranked No. 151 among the Fortune Global 500 in terms of operating income and No. 11 among the global top 1,000 banks in terms of Tier 1 capital rated by the London-based magazine The Banker. In 2023, the compa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of The Republic Of China (Taiwan)
The Central Bank of the Republic of China (Taiwan), known from 1924 to 2007 as the Central Bank of China and still referred to under the acronym CBC, is the central bank of Taiwan. Originally founded in 1924 in Guangzhou, the CBC was expelled from Mainland China by the Chinese Communist Revolution in 1949 and relocated to Taiwan. It took over banknote issuance on the island from the Bank of Taiwan in 1961. Its legal and common name in Chinese is literally translated as the "Central Bank". The central bank is administered under the Executive Yuan of the ROC government. History Mainland China (1924-1949) The CBC was originally proposed in 1923 by Sun Yat-sen's Army and Navy Marshal stronghold of the Republic of China and was established in Guangzhou a year later, serving the Nationalist government from 1925. Following the success of the Northern Expedition, the CBC relocated to Shanghai and its head T. V. Soong negotiated a division of labor with the Bank of China i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chinese Hyperinflation
The Chinese hyperinflation was the hyperinflation, extreme inflation that emerged in China during the late 1930s, extended to Taiwan after the Surrender of Japan, Japanese surrender in 1945, and concluded in the early 1950s. In the 1935 currency reform, the Nationalist government of China abandoned the traditional silver standard, in response to deflation caused by rising silver prices, and introduced its own Banknote, paper currency, the Chinese National Currency (CNC). However, this currency was issued without sufficient credit or reserve backing. The Nationalist government's reliance on deficit spending led to unchecked monetary expansion, resulting in rapid currency depreciation. This situation was aggravated by the financial burden of the Second Sino-Japanese War and the subsequent Chinese Civil War. To control the price hike, the government tried to introduce a new currency, namely the Chinese gold yuan (GY) in 1948, along with price and wage controls, which proved infeasible ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currencies Of China
The history of Chinese currency spans more than 3000 years from ancient china, ancient China to imperial China and modern China. Currency of some type has been used in China since the Neolithic age which can be traced back to between 3000 and 4500 years ago. The history of China's monetary system traces back to the Shang dynasty (c. 1766–1154 BCE), where cowrie shells served as early currency. Cowry shells are believed to have been the earliest form of currency used in Central China, and were used during the Neolithic period. By the Warring States period, diverse metal currencies like knife and spade coins emerged. These early currencies, starting as a commodity exchange to cowrie shells, copper coins, paper money and modern Chinese currencies and digital currencies shows how centralized power developed the most influential monetary system in the world. Early Establishment The Shang dynasty (c. 1600 – c. 1046 BC) came as a significant first step in the evolution of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currencies Introduced In 1935
A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance; i.e., legal tender laws may require a particular unit of account for payments to government agencies. Other definitions of the term ''currency'' appear in the respective synonymous articles: banknote, coin, and money. This article uses ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
