First Central Bank Governor of the Republic - Nan Hanchen (Biography of Chinese Economists)

Author: Deng Jiarong (Compiler)
Publisher:
Publish Date: 2006-01-01
Features: The life of Nan Hanchen, the first (Governor) 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, it is for the masses, not for any 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 planned and strategized, achieving decisive victories from afar, repeatedly suppressing the rampant speculation and hoarding activities of unscrupulous merchants, raiding the Securities Building, calming the silver yuan speculation frenzy, skillfully devising plans to stabilize the grain and cotton markets, and driving back the hoarding and speculation activities of unscrupulous merchants. The "three tight, three loose" capital management policy, along with flexible and appropriate measures, brought private industry and commerce to life – the dead were the unlawful merchants and speculators, while the thriving were the legitimate businesses. He once served as the secretary-general of Yang Huicheng, cleverly freeing Comrade Liu Zhidan from prison, 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 urgent tasks in times of crisis, taking on the role of the regional financial director during the hardest times when the Kuomintang imposed a blockade and embargo on our Shaanxi-Gansu-Ningxia Border Region. He went to great lengths to break the Kuomintang's economic blockade, solving the clothing and food problems for over 50,000 cadres and soldiers in the region. He had...