First Central Bank Governor of the Republic: Nan Hanchen

Author: Deng Jiaying
Publisher:
Publish Date: 2006-01-01
Features: The life of Nan Hanchen, the first of the People's Bank of China, filled with many firsthand stories. "People's Bank of China" – what a great name! The word "People" in it explains the nature of the bank – it belongs to the people, to the masses, not to some bureaucratic capitalist or financial oligarch. At the same time, it also indicates its status and role – it should be the national bank and central bank of the future People's Republic of China. He participated in the naming of the bank and led the work of the People's Bank of China Preparation Office. He was eager to seek talent and hired a large number of renowned economists for the People's Bank of China, such as Qian Jiaju, Wang Xuewen, Zhang Naiqi, Shen Zhiyuan, Tao Dàyong, Ji Chaiding, etc., making the People's Bank of China a "cradle of talent." He formulated strategies and won victories from afar, repeatedly suppressing the rampant activities of unscrupulous merchants in speculation and hoarding, raiding the Securities Building, calming the silver speculation frenzy, and cleverly devised plans in the grain and cotton markets to drive back the activities of unscrupulous merchants in hoarding and speculation. The "three tight, three loose" financial policy and flexible measures helped the private industrial and commercial sector thrive – the dead were the unlawful merchants and speculators, while the thriving were the legitimate industrial and commercial enterprises. He once served as the secretary-general of Yang Huicheng, freed Comrade Liu Zhidan from prison with wisdom, and when the Xi'an Incident broke out, the Party sent him to Xi'an to assist Comrade Zhou Enlai in coordinating the post-incident matters. He was entrusted with a difficult mission, taking office as the financial director of the Shaanxi-Gansu-Ningxia Border Region during the hardest times when the Kuomintang imposed a blockade and embargo on our Shaanxi-Gansu-Ningxia Border Region, and he worked tirelessly to break the Kuomintang's economic blockade, solving the clothing and food problems for the 50,000 cadres and soldiers in the Border Region. He once...