China’s coin names

Legal currency issued by the People's Bank of China. The unit is yuan (circle). Released on December 1, 1948. Use ￥ as the code name, and take the first letter of the Chinese pinyin of "yuan" (yuan) in capital letters plus two horizontal strokes. After the issuance, the local currencies issued by the liberated areas were gradually recovered, and all were collected in April 1951. Subsequently, various currencies issued by the Kuomintang government were eliminated through exchange methods. In order to establish an independent and unified RMB market, the state prohibits the circulation of gold, silver, and foreign currencies in the market. After controlling the inflation that has continued since the Anti-Japanese War, in order to maintain the long-term stability of the value of the RMB and eliminate the remnants of inflation, the country has issued new RMB since March 1, 1953, depreciating the currency at the rate of 1 yuan. 10,000 yuan is exchanged, and prices, wages and all debts are also converted at this rate. The denominations of RMB notes include main currencies of 100 yuan, 50 yuan, 10 yuan, 5 yuan, 2 yuan, and 1 yuan, auxiliary currencies of 5 jiao, 2 jiao, 1 jiao, 5 cents, 2 cents, and 1 cent, and 1 yuan and 5 jiao. , 2 dimes, 1 dimes, 5 cents, 2 cents, and 1 cent metal coins. Foreign exchange coupons are bills that are equivalent to the RMB in circulation within a designated range. They ceased circulation on July 1, 1995.

On December 2, 1947, Mao Zedong sat on the earthen bed of a farmer's cave in northern Shaanxi and received a telegram from Dong Biwu, the Central Working Committee: "Nan Hanchen has been sent to the Bohai Sea to find Zhang." , Deng discussed the specific measures to establish the bank. The name of the bank is proposed to be the People's Bank of China. If it is possible, please consider it. The name should be decided early and used when printing banknotes..." Mao Zedong handed it over after reading it. Zhou Enlai sitting across the table.

After Zhou En came to see it, he said: "Nan Hanchen believes that it is imperative to establish a unified bank and currency across the country." Mao Zedong laughed and said: "The situation is really a bit like the Eight-Power Allied Forces entering Beijing. We Jin Chaji uses border coins, Shanxi, Hebei, Shandong and Henan use Jinan coins, Shandong uses Beihai coins, the Northeast uses Northeast coins, and Northwest uses peasant coins. Once you get into Tianjin and Peiping, it's not Seven or eight currencies will be listed together! However, is it too early to establish a unified national bank..." Zhou Enlai responded to the telegram according to Mao Zedong's opinion.

Dong Biwu received a reply from the central government and immediately called Nan Hanchen and said: "It is a little early to establish a national unified bank, but we cannot relax in preparations. The working committee has studied it and starting from tomorrow, Put up the sign of the Preparatory Office of the People's Bank of China, and you will take the lead as the director of the Preparatory Office."

Nan Hanchen said: "The preparatory work to be done now is to collect all unified currency issuance policies and collect various information. For the issuance index of the liberated areas, sufficient issuance reserves must be prepared, and several types of coupons, the amount and value content of each coupon must be determined, the coupon pattern must be designed, the paper must be selected, etc. Since the Central Committee and the Maoist Government The chairman all agrees with our opinion. The unified bank is called the People's Bank of China, so our currency will be called 'RMB'."

Dong Biwu nodded and said, "This name is very good, it explains us. The nature of banks and our currency belongs to the people, so it is not owned by a certain region or department, but must be national and owned by the people of the whole country!"

Nan Hanchen admired Dong Biwu very much. He gave an explanation that was shrewd and thorough, so he said: "When the time comes, you will have to write the words "People's Bank of China" on the banknotes."

In late December 1947, the sign of the Preparatory Office of the People's Bank of China , hung in a small farmer's yard in Jiayu Village, a mile away from Xibaipo in Pingshan County.

In the autumn of 1948, the preparatory office moved to Shijiazhuang, just in time for the bombing by Kuomintang planes. The comrades in the Preparatory Office went to rescue the RMB and other spare materials that were being printed amidst the roaring shrapnel. Nan Hanchen took the lead in carrying and rescuing in the sea of ????fire. No one took into account personal safety.

Dong Biwu went to Nan Hanchen one day and said to him: "All the comrades of the Central Working Committee of the RMB banknotes you designed have seen it. A few days ago, I telegraphed Chairman Mao and told him The front of his ticket printed a portrait of Chairman Mao.

The Chairman came back with a telegram today and disagreed with having his image printed on the ticket.

The chairman said that the tickets were issued by the government, not the party. I am currently the chairman of the party, not the chairman of the government, so my image cannot be printed on the ticket. I will wait until I become the chairman of the government in the future. Han Chen, take the ticket back and let them redesign it. ”

“So, what kind of pattern should be changed to the face of the ticket? "Nan Hanchen asked.

Dong Biwu thought for a while and said: "The RMB is the people's own currency and should mainly reflect the people in the liberated areas engaged in industrial and agricultural production. In addition, there is another point to pay special attention to. The RMB is the currency of New China.

We are an independent country. On the front and back of the ticket, except for the necessary Arabic numerals, all are in Chinese and cannot be mixed with English words like some currencies. ”

Nan Hanchen went back and told designers Wang Yijiu and Shen Naiyong to redesign the banknote according to Dong Biwu’s opinions, and also included the words “People’s Bank of China” written by Dong Biwu and the number of money. Take it with you.

The two designers quickly designed three types of tickets: Shi Yuan, Twenty Yuan, and Five Shi Yuan. All the patterns were of workers and farmers engaged in production. The front of the 20 Yuan: the left side shows farmers driving, and the right side is the mine area; the 20 Yuan front: the left side shows farmers leading donkeys carrying goods, and the right side shows the train running on the railway; the 50 Yuan front: the left side There is traffic on the side of the donkey well, and on the right is the coal cart of the coal mine. Even the one hundred yuan, two hundred yuan, five hundred yuan, one thousand yuan, five thousand yuan, and one thousand yuan notes issued later also used this industrial and agricultural note. The production structure.

When the second set of RMB was issued in 1953, the famous painter Luo Gongliu was responsible for the design. At the beginning, they designed various designs based on the practice of printing Lenin's face on Soviet currency. The votes were all in the image of Chairman Mao. When Mao Zedong approved them, Zhou Enlai still proposed some revisions. Someone held up a portrait of Chairman Mao, and Zhou Enlai instructed: Chairman Mao's opinion is not to paint his portrait here. There is still a portrait here, and it should be changed to a placard. On Tiananmen Square, the main scene of the one-yuan coupon originally had red flags, lanterns and Mao Zedong. Zhou Enlai also ordered the removal of the portrait of the Chairman.

In November 1948, after the Four Wilds liberated the entire Northeast, a million troops marched into the pass and encircled Tianjin and other places without attacking them. Without strategic encirclement, the revolutionary situation developed very rapidly. Faced with this situation, Zhou Enlai called Nan Hanchen and asked him to mobilize all forces to issue a national unified RMB, otherwise other measures would be taken.

According to Zhou Enlai's instructions, Dong Biwu presided over the second political affairs meeting of the North China People's Government on November 18. The central topic was: establishing the People's Bank of China and issuing a unified national currency. At the meeting, Dong Biwu once again cautiously stated. Xiang Nan Hanchen asked: "Hanchen, time is not waiting for me! How are you doing with your preparatory work? Can you put up the People's Bank of China sign tomorrow? ”

“I think it’s okay. After more than a year of preparations, all work is in place. The banknotes of 12 denominations have been approved by several leaders of the central government. If the People's Bank of China sign is displayed tomorrow, the banknotes can be issued tomorrow. In order to prepare for our RMB to occupy the market immediately after the liberation of Peiping, our comrades from the Ministry of Urban Affairs have sent people with printing plates into Peiping, negotiated with a printing factory there, and secretly printed a batch of banknotes on our behalf. As soon as the People's Liberation Army enters the city, RMB can be circulated in the market. Nan Hanchen said with full confidence.

Dong Biwu made the decision immediately: "Okay, then we have settled and immediately announced the establishment of the People's Bank of China!" "

On December 1, 1948, the People's Government of North China posted a notice announcing the establishment of the People's Bank of China and the issuance of the national unified currency RMB. Comrade Nan Hanchen was appointed as the general manager of the People's Bank of China.

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On this day, the first batch of RMB with a face value of five yuan was officially issued at the Bank of Pingshan County, Hebei Province; then, RMB with a face value of twenty yuan and ten yuan were issued in Shijiazhuang.

Note: The 2-yuan banknotes currently in circulation are being recycled, and the cents have been discontinued.