Author| Gao Bo ,Party Secretary and President of Taiyuan Central Branch of Chinese Bank"
Article | China Finance, No. 13-14, 2021
As one of the earliest important banks established in the revolutionary base area under the leadership of the Communist Party of China, Ji'nan Bank has made outstanding contributions to the economic construction of the Jinji-Hebei Luyu base area and is known as the "cradle of new Chinese finance". Taking history as a mirror, learning from the past and learning the past, and reliving the turbulent years experienced by Ji'nan Bank is to sum up historical experience, inherit the red gene, not forget the original mission, and strive to promote the high-quality development of Shanxi's financial undertakings in the new era.
Born in the smoke
In July 1937, after the outbreak of the War of Resistance Against Japan, the Red Army was reorganized into the Eighth Route Army of the National Revolutionary Army and quickly went to the anti-Japanese front. After the headquarters of the Eighth Route Army and the 129th Division advanced into the Taihang Mountains and relied on the southeast of Jin to create the Jin-Ji Luyu Anti-Japanese Base Area, they faced many difficulties. First, it endured the strict economic blockade and frenzied military sweeping of the base areas by the Japanese Kou. Second, it is necessary to deal with all kinds of friction deliberately created by the Diehard Kuomintang faction. The Kuomintang government gradually reduced and eventually stopped paying and supplies to the Eighth Route Army, and the Eighth Route Army's supplies could only be solved by itself. Third, we are facing a chaotic currency circulation order and a severe situation of currency struggle. In the currency market, legal tender, Lu banknotes, and turkish banknotes are mixed, and the circulation areas are divided, which hinders the smooth flow of material exchanges and trade in the base areas and restricts the economic development of the base areas. The Japanese puppet government frantically plundered the materials in the base areas by issuing counterfeit currency, and the situation of currency struggle was extremely grim.
In October 1938, at the Sixth Plenary Session of the Sixth Central Committee of the Communist Party of China, Comrade Mao Zedong made a planned struggle against the enemy's policy of issuing counterfeit money and destroying legal tender, allowing the establishment of local banks and the issuance of local paper money in the isolated areas. At the end of 1938, the Japanese army launched a sweep of Nangong County in Hebei Province, and the plan originally scheduled to establish a Ji'nan Bank in Nangong County, Hebei Province, was changed, and the institutions, personnel and equipment of the Ji'nan Bank were transferred to Licheng County, Shanxi Province. In June 1939, according to the instructions of the Northern Bureau of the CPC Central Committee and the Headquarters of the Eighth Route Army, the Preparatory Office of Ji'nan Bank was established in Licheng County, Shanxi Province, and began the preparatory work of Ji'nan Bank.
At the beginning of the establishment of the Ji'nan Bank, the Kuomintang diehards carried out crazy obstruction and sabotage. Chiang Kai-shek repeatedly ordered the suspension of the preparatory work for the establishment of the Ji'nan Bank. Lu Zhonglin, chairman of the Hebei Provincial Government, and Shi Yousan, chairman of the Chahar Provincial Government, ordered: "Anyone who uses the Ji'nan ticket shall be shot." The preparation of Ji'nan Bank is facing the difficulties of "no talent, two no equipment, and three no materials". Under the strong leadership of the Communist Party of China, the Bank of Ji'nan successively selected and transferred a large number of backbone business cadres and financial and economic talents from the Anti-Japanese Military and Political University, the 129th Division, and the Ji'nan School of Finance and Economics; invited Zhang Yumin, a printing technician, from Xingtai; procured paper, ink, and other printing materials from large and medium-sized cities occupied by the Japanese and Puppets; and raised printing equipment from The Shangdang Silver Horn, the Ji'nan Daily Newspaper, the Taiyue Xinhua Daily Printing Plant, and other units to form 2 lead printing houses and 4 printing plants. On October 15, 1939, the head office of the Ji'nan Bank, located in Xiaozhai Village, Licheng County, Shanxi Province, and the Eastbound Lu ("Road" or Pinghan Railway) in Nangong County, Hebei Province, were established at the same time.
Thrive in struggle
After its establishment, Ji'nan Bank continued to grow and develop in the process of military and economic struggle with the enemy, and gradually grew into a bank with a complete organizational system, a high credit currency, a mature management mechanism, and unique cultural characteristics.
The organizational system is becoming more and more complete. The branches of Ji'nan Bank were only set up in Taihang and Ji'nan districts in 1939, and developed to October 1947 with 4 district banks (Taiyue, Taihang, Ji'nan, Jiluyu), 26 branches, 173 county branches, with nearly 2,000 cadres and employees, and the institutions spread throughout the vast area from Zhengtai Road in the north to Zhengtai Road, Nanda Longhai Road, East to Jinpu Road, and Xida Yellow River, becoming the largest liberated area bank in the country at that time.
The monetary system gradually stabilized. In the process of struggling against the enemy and counterfeit currencies, the credibility of the Ji'nan Bank's Ji banknotes has been increasingly enhanced, the circulation area has been expanding, and the scope of use has gradually become unified, becoming a base currency with high credibility and stable currency value in the base area. With the advance of Liu Deng's army into the Dabie Mountains and some troops into the northeast after the victory of the War of Resistance, the Ji banknotes were circulated to central China and northeast China, laying a solid foundation for the later issuance of the renminbi. There are four main characteristics of the issuance and use of Ji banknotes. First, the variety is complete. In the past 9 years, Ji'nan Bank has issued a total of 47 kinds of local currencies with 19 face values, including 1 jiao, 2 jiao, 1 yuan, 5 yuan, 10 yuan, 50 yuan, 100 yuan, 100 yuan, etc., to meet the demand of the military and civilians in the base areas for Ji banknotes. Second, the scale is moderate. The amount of Hebei banknotes issued is adjusted accordingly according to the scope of circulation and the needs of industrial and agricultural production and trade. In the past 9 years, a total of 201.27 billion yuan of Ji banknotes have been issued, which has ensured the civilian use of military supplies and promoted the economic development of the base areas. Third, reserves are sufficient. The issuance of the Ji banknotes was guaranteed by adequate material preparations. In August 1940, the Bank of Ji'nan organized an exhibition of reserves for issuing Ji banknotes in Xijing Village, Licheng County, displaying physical reserves such as gold bricks, gold bars and silver dollars, which further enhanced the credit of Ji banknotes and enhanced the willingness of the people in the base areas to hold and use Ji banknotes. Fourth, the value of the currency is stable. Ji'nan Bank adheres to the principle of tightening the issuance and reasonably limits the amount of issuance, which ensures the basic stability of the value of The Ji banknotes for a long period of time. Comrade Deng Xiaoping pointed out in "The Economic Construction of Taihang District" that "the low prices of Taihang and Taiyue have been unattainable for other regions for a long time."
The management system is becoming more and more perfect. First, a mature organizational management system has been formed. Ji'nan Bank has a board of directors, which is composed of personnel from the headquarters, political department and logistics department of the Headquarters of the Eighth Route Army, and there are three departments of sales, general affairs and distribution within the headquarters. The organization is strictly disciplined, and the Bank of Ji'nan and its responsible persons have their own confidential codes, among which the code name of Ji'nan Bank is "London" and the code name of the issuing office of Ji'nan Bank is "Yangtze River". Second, a mature business management system has been formed. After the establishment of Ji'nan Bank, the Northern Bureau of the CPC Central Committee and the Government of The Luyu Border Region of Jinji-Hebei Province formulated a series of management systems such as the Treasury System, the Accounting System, and the Measures for the Management of Agricultural Loans in view of the main business of Ji'nan Bank, and clarified the guidelines and operating procedures for various types of business. The third is the formation of a mature cadre management system. The Bank of Jinan implements militarized management, paying special attention to the ideological and political work of cadres, education on party style and clean government, and professional training. From the very beginning of its establishment, political organs have been established to strengthen political leadership and the work of grass-roots party branches. After the baptism of war, Ji'nan Bank has created a cadre team with firm convictions, excellent work style and exquisite business, which has laid a talent foundation for the development and growth of Ji'nan Bank.
Its own culture is unique. In the face of the cruel war environment, the cadres and workers of Ji'nan Bank actively carried out cultural construction and formed a unique culture of their own. The first is to establish a cultural image, design the emblem of Ji'nan Bank, and create a song of Ji'nan Bank. The second is to build a cultural brand, founding the "Accounting" and "Bank Monthly" magazine, and the Taihang District Bank also founded the "Credit Cooperation Newspaper". The third is to carry out cultural activities, self-written and self-performed dramas such as "Jiang Jun Must Be Defeated" and "Against the Four Major Families". The fourth is to carry out cultural innovation, and according to the needs of the situation, a written word was created- the 餏 (xi), which is a unit of measurement of military expenditure and wages used in the base areas. A hurricane is 2 kg of millet, 1 kg of wheat, 1 and a half pounds of coal, 5 cents of oil, 5 cents of salt and 1 foot of white cloth, which is equivalent to the value of 4 and a half pounds of millet.
Build merit in the grind
From the establishment of The Bank of Jinan in October 1939 to the merger with the Bank of the Jin-Cha-Ji Border Region to form the Bank of North China in October 1948, it has experienced a total of 9 years of the War of Resistance Against Japanese Aggression and the War of Liberation. In the past 9 years, Ji'nan Bank has made outstanding achievements in many aspects.
It has made important contributions to supporting the victory of the whole nation in the War of Resistance. The victory in the War of Resistance Against Japanese Aggression and the War of Liberation was also a victory in the economic struggle against the enemy, and the Bank of Ji'nan made an indispensable contribution. During the War of Resistance Against Japanese Aggression, the Kuomintang government set off an anti-communist upsurge and stopped sending supplies to the Eighth Route Army, and in this case, nearly half of the Ji'an Banknotes issued by the Ji'nan Bank directly undertook the funds of the Eighth Route Army and the military and political personnel of the Anti-Japanese Democratic Government. During the Liberation War, the main force of the Jinji-Hebei Luyu Field Army carried out a strategic counteroffensive, the militia and self-defense forces of the Taihang District participated in the war with the army, and the Bank of Jinan even took out a large number of Ji banknotes to meet military needs and support the smooth progress of the national liberation war.
It has made important contributions to consolidating and developing the economy of the border areas. The Bank of Ji'nan is a bank under the direct leadership of the Eighth Route Army and the Government of the Border Region, and in accordance with the spirit of Comrade Mao Zedong's instructions on "developing the economy and ensuring supply" and the work policy of the Government of the Border Region, the issuance of Ji'an banknotes was largely used to support the production and development of the Border Region. From 1939 to 1947, The Bank of Ji'nan issued a total of more than 10 billion yuan of various loans, of which Jiluyu District, Taihang District, Ji'nan District and Taiyue District were more than 3 billion yuan, 2.9 billion yuan, 2.4 billion yuan and 1.3 billion yuan respectively. Among the loans issued, industrial loans, commercial loans, agricultural loans, water conservancy and cooperative loans accounted for 35%, 31%, 22% and 12% respectively. Through the issuance of loans, The Bank of Jinan has vigorously supported the construction of infrastructure such as industrial and agricultural production and water conservancy irrigation, and effectively met the production capital needs of handicrafts, small businesses and other industries.
Make an important contribution to the improvement of monetary management. From sorting out all kinds of miscellaneous banknotes and unifying the currency in the base areas, to resolutely fighting and continuing to carry out anti-counterfeiting work; from stabilizing the value of Hebei banknotes and consolidating credit, to carrying out currency struggles and supporting trade with the enemy, Ji'nan Bank has explored and used various currency management methods and accumulated rich experience, so that Ji'an banknotes will eventually develop into the most widely used and most stable banknotes in the banks in the base areas. This not only effectively resisted the enemy's financial attacks, effectively enhanced the people's trust in Ji banknotes, but also accumulated valuable experience in currency issuance, providing a reference for strengthening RMB management in the future.
Make an important contribution to improving the level of banknote printing. In April 1939, the Kuanzhuangshan Banknote Printing Factory in Licheng County successfully printed the first edition of the Ji banknote "Two Corners" banknote, and in 1948, the first edition of the RMB was trial printed and mass-produced in Nanmo Village, Licheng County, and the Ji banknote and the RMB have a deep historical relationship. In this process, Ji'nan Bank has continuously improved the printing process, improved the printing level, stepped up the production of banknote printing paper, and ensured the smooth printing and issuance of Ji banknotes, Zhongzhou currency and RMB. In 1947, the production unit of the issuance office of Ji'nan Bank reached 15, including more than 160 small lithographic machines, 5 large lithographic printing machines, more than 80 small lead printing machines, and 1 offset printing and gravure printing machine.
It has made important contributions to standardizing the management of the system. Ji'nan Bank has established a set of standardized mechanisms such as fund management and treasury agency, and explored and improved a series of business management systems. For example, for accounting and auditing work, Ji'nan Bank has standardized the setting of subjects, the format of summonses, and the style of statements from the beginning, clarified the operation process of accounting and financial auditing, and further revised and improved with the development of institutions and businesses, forming an accounting and financial system with standardized procedures, reasonable operation and complete system, ensuring the orderly operation of Ji'nan Bank's business. In 1946, in order to further strengthen the management of financial work, the head office of Ji'nan Bank decided to separate accounting and auditing work and establish a special auditing agency. In the face of frequent wars and turbulence, Ji'nan Bank still pays attention to the standardized development of business, constantly improves the system, and strengthens management, which not only withstands the test in a difficult environment, but also lays the foundation for the standardized and orderly development of our party's financial work.
Make an important contribution to the growth of financial power. Ji'nan Bank has actively supported the continuous development and growth of rural credit cooperative organizations by increasing loan support and mobilizing the masses to raise funds and shares. By 1947, the number of rural credit cooperatives in the Jinji-Hebei Luyu Liberated Area had grown to 880. The organization founded Ruihua Bank, and its branches developed to Nangong, Xingtai, Changzhi, Jincheng, Heze, Jining and other places. It also supported the creation of the Zhongzhou Farmers Bank, which set up branches in Anhui, Western Henan, and Southern Shaanxi. The support of Ji'nan Bank to financial institutions has ensured the effective operation of the economic and financial work in the base areas and accumulated experience for the management of financial institutions nationwide after the establishment of Chinese Minmin Bank.
Make important contributions to the cultivation of financial talents. Ji'nan Bank has successively participated in the establishment of the 129 division finance and economics school, the North China school of finance and economics, and the Jianye Accounting School, and has trained cadres by holding rotational training classes, holding professional meetings, and carrying out experience exchanges; through the establishment of accounting societies and publications in the border areas, guide the staff to learn and improve. Ji'nan Bank has trained a large number of economic management talents through various means, and the Jianye Accounting School alone has trained more than 1,000 trainees, who have become the backbone of banking institutions. After the founding of the People's Republic of China, the 948 financial and economic management talents trained by Ji'nan Bank have played an important role in 41 industries across the country. Among them, Chen Xiyu (President of Chinese Minmin Bank), Hu Jinghuan (Vice President of Chinese Min bank, President of Agricultural Bank of China), Wu Boshan (Vice Minister of Finance, President of Chinese Min construction bank), Rong Zihe (Acting Minister of Finance) and others have made outstanding contributions to the development of China's economic and financial undertakings in New China.
Strive for success in the inheritance
Under the leadership of the Communist Party of China, relying on the Jinji-Hebei Luyu Revolutionary Base Area, during the Period of the War of Resistance Against Japanese Aggression and the War of Liberation, after a long period of struggle against the enemy and the practice of financial work, The Bank of Jinan has formed a distinctive style of the times, which can be summed up as follows: Firm ideals and convictions, supremacy of the people's interests, courage to take responsibility, and courage to blaze new trails. This is a concrete embodiment of the spirit of the Chinese nation and a precious asset for the development and prosperity of China's financial undertakings. As grassroots central bank workers in the new era, they should inherit the red gene, undertake the mission of the times, and perform their duties well.
Persist in party building and leadership. The key to the continuous development and growth of Ji'nan Bank in an extremely difficult and complex environment lies in adhering to the party's leadership. In practical work, grass-roots central banks must earnestly strengthen the party's leadership over financial work, always maintain a high degree of consistency with the party central committee with Comrade Xi Jinping as the core, resolutely implement the major decisions and deployments of the party central committee and the important work arrangements of the higher-level party committees, and further promote the integration and development of party building and financial business.
Insist on serving the people. Through credit support, the Bank of Ji'nan has built water conservancy facilities such as the Zhangnan Canal, vigorously promoted the development of agriculture, industry, commerce, and handicrafts in the base areas, and issued a large number of interest-free loans to help the people in the border areas tide over the difficulties when the base areas are facing disasters and famines. At present, the whole party is concentrating on the study and education of party history, we must take this as an opportunity to solidly carry out the practice of "I do practical things for the masses", focus on financial support for private small and micro enterprises, improve the convenience of financial payment services, promote the facilitation of trade foreign exchange receipts and payments, optimize credit inquiry services, promote diversified solutions to financial disputes and other hot and difficult issues, concentrate on solving a number of problems involving vital interests for the masses, and run the concept of "finance for the people" throughout the entire process of performing duties, which is reflected in the effectiveness of action.
Insist on taking responsibility. At that time, Gao Jiecheng and Lai Jian, the two presidents of the Ji'nan Bank, and more than 80 comrades spilled their blood on the land of the border area without hesitation. Under extremely difficult conditions, the financial ancestors, after arduous struggle, exchanged their blood and lives for victory in military wars and currency struggles, demonstrating their spirit of courage to sacrifice everything. Grassroots central bank workers should inherit the red financial gene, adhere to the hardships first, enjoy the back, so that they can bravely shoulder the heavy burden in the face of emergencies, difficulties and dangers, and show the responsibility of central bankers in the new era.
Adhere to innovation and development. Adhering to the spirit of reform and innovation, Ji'nan Bank actively adapted to changes in the situation, explored the road of development, merged the business of Shangdang Yinhao and Luxi Bank, and founded the first joint-stock city commercial bank under the leadership of our party, Ruihua Bank, which undertook the exchange of funds between various base areas and played the function of clearing bank. During the "14th Five-Year Plan" period, Shanxi Province has entered a critical period of development and transformation out of the rudimentary form, and the grass-roots central banks should find the entry point and breakthrough point of their own work, make good use of monetary policy tools, guide financial institutions to vigorously support the construction of the "five major bases" of the energy revolution, the "six new" fields, manufacturing and strategic emerging industrial clusters, strengthen the linkage between the upper and lower levels, effective coordination, and make new and greater contributions to financial support for the high-quality transformation and leapfrog development of Shanxi's economy. ■
(Editor-in-Charge Xu Xiaoping)