In the first year (8 years), Wang Mang accepted Liu Ying's abdication and proclaimed himself emperor, and changed his country name "Xin", and Chang 'an was changed to Chang 'an. As the capital of the new dynasty, Wang Mang became the first emperor in the history of China by abdicating. After the establishment of the new dynasty, Wang Mang began to carry out comprehensive social reforms.
Extended data:
Wang Mang renamed the state-owned land as "Wang Tian" and the handmaiden as "private ownership", all of which prohibited buying and selling; It is claimed that families with less than eight people occupy more than one well (900 mu), and the remaining land must be distributed to the neighboring Jiuzu township. If there is no land, it will be distributed according to the provisions of monogamy 100 mu of land.
In the second year after the founding of the People's Republic of China (10), the policy of "five averages and six budgets" was implemented to control and monopolize industry and commerce and increase taxes: holding credit loans; Reform the monetary system and create currencies such as "wrong knife", "seven roads" and "complete 50". He also regained the fifth rank and often changed the official system.
Wang Mang's system reform failed because of his harsh laws, corvee and bureaucratic incompetence, which caused huge social and economic losses. In the fourth year of Emperor Huang (23rd), Xin Mang regime collapsed under the attack of peasant rebels such as Chimei and Lvlin, and Wang Mang was killed.