Cookies Policy

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.

I accept this policy

Find out more here

The Birth Of The CCP Military-Fiscal State In Shandong

Brill’s MyBook program is exclusively available on BrillOnline Books and Journals. Students and scholars affiliated with an institution that has purchased a Brill E-Book on the BrillOnline platform automatically have access to the MyBook option for the title(s) acquired by the Library. Brill MyBook is a print-on-demand paperback copy which is sold at a favorably uniform low price.

Access this chapter

+ Tax (if applicable)

Chapter Summary

On June 30, 1943, the Shandong Bureau, the CCP's authority in the province, made a decision to eliminate the fabi, then the official currency of the Republic of China, from the markets in the CCP zones and replace it with beipiao, the banknotes of its North Sea Bank. The decision was announced on July 9, 1943 and was implemented on July 20. This was the Shandong Bureau's second attempt to prohibit the Nationalist currency. The officials concerned, especially Xue Muqiao a well-respected economic specialist who promoted the campaign, were relieved when the fabi disappeared and did not return. It was an achievement that Zhang Yutian its principal founder, had never thought possible when he established the bank in 1938. The original purpose of the North Sea Bank was to supply the CCP's nascent anti-Japanese coalition force in Xexian.

Keywords: beipiao; CCP zones; fabi; North Sea Bank; Shandong; Xexian; Xue Muqiao; Zhang Yutian



Can't access your account?
  • Tools

  • Add to Favorites
  • Printable version
  • Email this page
  • Recommend to your library

    You must fill out fields marked with: *

    Librarian details
    Your details
    Why are you recommending this title?
    Select reason:
    A Springboard to Victory — Recommend this title to your library
  • Export citations
  • Key

  • Full access
  • Open Access
  • Partial/No accessInformation