|
Fabi (currency)
The Chinese National Currency (CNC), often transliterated as fapi or fabi or translated as Legal Tender Note, is 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 Bank of Communications Limited (BoComm) (; often abbreviated as ), is the fifth-largest bank in mainland China. Established in 1908, the Bank of Communications claims a long history in China and is one of the banks to have issued banknotes in mo ... 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 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, at the junction of the East and South China Seas in the northwestern Pacific Ocean, with the People's Republic of China (PRC) to the northwest, Japan to the northeast, and the Philippines to the south. The territories controlled by the ROC consist of 168 islands, with a combined area of . The main island of Taiwan, also known as ''Formosa'', has an area of , with mountain ranges dominating the eastern two-thirds and plains in the western third, where its highly urbanised population is concentrated. The capital, Taipei, forms along with New Taipei City and Keelung the largest metropolitan area of Taiwan. Other major cities include Taoyuan, Taichung, Tainan, and Kaohsiung. With around 23.9 million inhabitants, Taiwan is among the most densely populated countries in the world. Taiwan has been settled for at least 25,000 years. Ancestors of Taiwanese indigenous peoples settled the island around 6, ... [...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 defunct 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 known as Taiwan Province, R.O.C., 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, 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 Fabi $3 million, and this rate was used for ... [...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 policymakers 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 of the Office of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiat Money
Fiat money (from la, fiat, "let it be done") is a type of currency that is not backed by any commodity such as gold or silver. It is typically designated by the issuing government to be legal tender. Throughout history, fiat money was sometimes issued by local banks and other institutions. In modern times, fiat money is generally authorized by government regulation. 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. 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 money, which is money that has intrinsic value because it is backed by and can be convert ... [...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 sil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of China
Central is an adjective usually referring to being in the center of some place or (mathematical) object. Central may also refer to: Directions and generalised locations * Central Africa, a region in the centre of Africa continent, also known as Middle Africa * Central America, a region in the centre of America continent * Central Asia, a region in the centre of Eurasian continent * Central Australia, a region of the Australian continent * Central Belt, an area in the centre of Scotland * Central Europe, a region of the European continent * Central London, the centre of London * Central Region (other) * Central United States, a region of the United States of America Specific locations Countries * Central African Republic, a country in Africa States and provinces * Blue Nile (state) or Central, a state in Sudan * Central Department, Paraguay * Central Province (Kenya) * Central Province (Papua New Guinea) * Central Province (Solomon Islands) * Central Province, Sri La ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of China
The Bank of China (BOC; ) is a Chinese majority state-owned commercial bank headquartered in Beijing and the fourth largest bank in the world. The Bank of China was founded in 1912 by the Republican government as China's central bank, replacing the Qing Dynasty's Ta-Ching Government Bank. It has been the second oldest bank in China still in existence after the Bank of Communications, founded in 1908. From its establishment until 1942, it issued banknotes on behalf of the Government along with the "Big Four" banks of the period: the Farmers Bank of China, Bank of Communications and Central Bank of the Republic of China. After the People's Republic was established in 1949, it has become a national commercial and foreign exchange professional bank. Its original central bank designation was carried on by the newly formed People's Bank of China. As of 31 December 2019, it was the second-largest lender in China overall and ninth-largest bank in the world by market capitali ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Communications
Bank of Communications Limited (BoComm) (; often abbreviated as ), is the fifth-largest bank in mainland China. Established in 1908, the Bank of Communications claims a long history in China and is one of the banks to have issued banknotes in modern Chinese history. 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 Fortune Global 500 in terms of operating income by the Fortune and No.11 among the global top 1,000 banks in terms of Tier 1 Capital rated by the London-based magazine The Banker. History Before 1949 In 1907, Liang Shiyi proposed the formation of a Bank of Communications to redeem the Beijing–Hankou Railway from its Belgian owners and place the railway under Chinese control. The Bank of Communications was duly formed in 1908 and provided more than half of the financing needed to buy the railway. The successful redemption enhanced the prestige of Liang's Communications ... [...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) (CBC), known in English from 1924 to 2007 as the Central Bank of China, is the central bank of the Republic of China, once founded in Mainland China and since relocated to Taiwan. 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. (''Central Bank Law'') History Mainland China 
The bank was originally prop ...
[...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 infeasibl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currencies Of China
The history of Chinese currency spans more than 3000 years. 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. Cowry shells are believed to have been the earliest form of currency used in Central China, and were used during the Neolithic period. Around 210 BC, the first emperor of China Qin Shi Huang (260–210 BC) abolished all other forms of local currency and introduced a uniform copper coin. Paper money was invented in China in the 9th century, but the base unit of currency remained the copper coin. Copper coins were used as the chief denomination of currency in China until the introduction of the yuan. Currently, the '' renminbi'' is the official currency of the People's Republic of China (PRC). It is the legal tender in mainland China, but not in Hong Kong or Macau. The special administrative regions of Hong Kong and Macau use the Hong Kong dollar and the Macanese pataca, respect ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currencies Introduced In 1935
A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" 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 "curre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
