Hang, Tianzheng, “Ri jun jinzhan gong gong zujie hou shanghai yinqianye linshi lianhe de huodong” [A review of the temporary federation of Shanghai monetary associations after the Japanese army occupied the International Settlement], (2004)

Title : “Ri jun jinzhan gong gong zujie hou shanghai yinqianye linshi lianhe de huodong” [A review of the temporary federation of Shanghai monetary associations after the Japanese army occupied the International Settlement],

Author(s) : Hang, Tianzheng

Year : 2004

Type : Journal article

Subject : History

Keywords : economy;war;banks;

Journal : Shixue Yuekan (Journal of Historical Science),

Volume : 7

Start page : 51

End page : 56

Language:Name : Chinese

Support : Print

Abstract : After the Japanese army occupied the International Settlement it seized control of Shanghai's financial sector, closing down the Central Bank of China, the Bank of China, the Bank of Communications, and the Bank of Peasants, which almost caused the financial institutions in concession to collapse. In order to cope with this complicated situation, the Bankers' Association and the Native Bankers' Union in Shanghai jointly established a temporary federation of monetary associations which negotiated with the illegitimate government under the control of the Japanese army on many items, such as adjusting funds, requiring the Shanghai branches of the Bank of China and Bank of Communications to reopen, and paying taxes in order to sustain the financial sector overall. The negotiation activities of this temporary entity show that the two parent financial institutions were reluctant to be manipulated by the illegal authorities or to collaborate with the enemy.