On December 1, 1948, the People's Bank of China was established, and the words "People's Bank of China" were inscribed by Comrade Dong Biwu.
In p>1947, with the successive victories of the War of Liberation, the liberated areas scattered in North China gradually became one. In order to meet the needs of the exchange of personnel and materials, the liberated areas urgently needed to establish a unified financial institution.
on September 14th, 1947, Zhang Dingcheng, then commander of the Central China Military Region, and Deng Zihui, acting secretary of the East China Bureau of the Central Committee, called the Central Working Committee and pointed out that "in order to adapt to the front-line operations, the Central Committee should immediately set up the United Bank or the Liberation Bank, and the sooner the better".
Dong Biwu, the main person in charge of the Central Working Committee, immediately approached Nan Hanchen, then deputy director of the North China Finance and Economics Office, for discussion after receiving the telegram from Zhang Dingcheng and Deng Zihui. Nan Hanchen pointed out that it takes a long time to make banknotes, so it is imperative to determine the name of the bank.
According to Nan Hanchen, the first president of China People's Bank, at that time, Comrade Dong Biwu was not very satisfied with the names "United Bank" or "Liberation Bank" proposed by Zhang Dingcheng and Deng Zihui. At that time, because the ordinary people were already complaining about inflation in the Kuomintang-controlled areas, the central bank of the Kuomintang had already frightened the people. If it was called the "central bank", I am afraid it would be difficult for people to distinguish between this "central bank" and that "central bank".
During the discussion with Comrade He Songting, the vice president of the Shanxi-Chahar-Hebei Border Bank suggested that since our army is called "People's Army" and our government is called "People's Government", why not call our bank "People's Bank".
The name of "China People's Bank" was approved by Comrade Dong Biwu. The word "people" illustrates the nature of this bank. It belongs to the people and the public, not a bureaucratic capitalist or a financial oligarch. At the same time, it also shows its position and function. It should be the national bank and central bank of the future people.
According to an article written by Comrade Shi Lei, a late coin expert and former director of the currency circulation department and deputy director of the planning department of the People's Bank of China, Comrade Dong Biwu said when drafting the name of the bank, the central bank we created today should not only consider the currency unification in the liberated areas at present, but also be linked with the bank name of new China in the future.
On October 2, 1947, Liu Shaoqi, secretary of the Central Working Committee, and Dong Biwu, member of the Standing Committee, sent a telegram to the Central Committee in Xibaipo, suggesting the establishment of a bank in Jiefang Quan District. In asking for instructions, he reported to the Central Committee the situation of sending Comrade Nan Hanchen to the Bohai Sea to discuss with Zhang Dingcheng and Deng Zihui, and put forward the proposal of setting up a bank in the Liberated Area, and proposed that the name of the bank should be "China People's Bank".
The Central Committee agreed to this proposal and instructed Dong Biwu to organize the preparatory work. Thus, the name of "China People's Bank" was determined.
in June p>1948, the central Ministry of finance and economy was established, with Dong Biwu as minister and Xue Muqiao as secretary-general. At the third government affairs meeting of the People's Government of North China held in November, Dong Biwu, then chairman of the People's Government of North China, temporarily added two topics, one of which was the establishment of the People's Bank of China to issue a unified currency.
At the meeting, Comrade Nan Hanchen gave an explanation on the establishment of the People's Bank of China to issue a unified currency. The meeting decided to immediately set up the People's Bank of China and appointed Nan Hanchen as the general manager. On December 1, 1948, the People's Bank of China was established, and the words "People's Bank of China" were inscribed by Comrade Dong Biwu.
Dong Biwu (March 5, 1886-April 2, 1975), formerly known as Xian Cong, also known as Yong Wei, whose name was Jie She, was born in Huangzhou, Hubei Province (later changed to Huang An County, now Hong 'an County). China * * * founder of the production party and one of the first generation of major leaders, the founding father of the People's Republic of China, once served as the vice chairman and acting chairman of the People's Republic of China, and was a member of the Committee of The Politburo Standing Committee (PSC).
Extended information:
People'sBankofChina (English: People's Bank of China), referred to as the People's Bank, the People's Bank of China or the Central Bank, is the central bank of the People's Republic of China and one of the constituent departments of the State Council. Its head office is located in Beijing, and its main responsibilities are to formulate strategic plans for financial sector reform and development, formulate and implement monetary policies and exchange rates.
The People's Bank of China was formerly the Chinese Soviet National Bank of the People's Republic of China, which was established in 1931 by China's * * * Production Party.
On December 1st, 1948, on the eve of the founding of the People's Republic of China, the People's Bank of China merged Beihai Bank and Northwest Farmers Bank in Shijiazhuang, Hebei Province, and issued RMB. The People's Bank of China is the world's largest central bank by assets.
References: Who wrote the words "China People's Bank" on the Hebei Party History Network-RMB?