A Study On The Evolution Of Legal System Of Currency In Modern

The peaceful liberation of Tibet accord which articulated Tibet’s peaceful liberation was signed by the central government of China and the local government for Tibet in May, 1951. Taking the complicated situation of traditional currency, financial system and trade in Tibet, it was a really tremendous task for the central government to adopt the fit and appropriate measures and currency policies. For the sake of financial stability and welfare of people in Tibet, the central government decided a transition currency system with caution at finally. It meant that Tibet’s traditional currencies included silver coins, silver ingots, Indian Rupee, local banknotes and coins could continue to circulate and CNY were not allow to circulate in Tibet in a long time. CNY began to circulate melting with silver coins and Tibet local currency was banned on circulation when age of democratic reform in Tibet came in 1959. A rule was constituted which stipulated CNY is the only legal tender for all debts, public and private, in Tibet, and ban on circulation of silver coins, silver ingots, Indian Rupee at meantime. From that,the formal modern currency legal system was established and CNY is only legal tender in the mainland.Under the era of “one Belt and one Road” and acceleration of CNY capital account convertibility, financial cooperation is playing a deeply crucial role in any nations’ strategies. It is no doubt that South Asia is an important point for “one Belt and one Road” and tackling with task of “Indo-Asia-Pacific” issued by the United States. It is a wisdom act to ask the history of Tibet’s currency law system.Furthermore, as we known that the currency legal system of modern China, Coppers--Silver, was a backward system, which coppers ruled by the government while circulation of silver was free rein. For this reason, beside the laws and statutory issued by the Tibet local government and the central government, I collected and studied both the resource of customary laws of currency in Tibet. Decision of the CPC Central Committee on Major Issues Pertaining to Comprehensively Promoting the rule of Law has stressed the construction of market law system and the compilation of civil code,which has add motivation to the compilation of Chinese civil code.The point that the customary law is a kind of form of civil law is adopted by all scholars’ drafts. It is nature to pay an attention to the Ethnic minorities’ folkways and customs. In fact, Article 19 of General Principles of the Civil Law of the People’s Republic of China(Draft, Yang) stipulated principle of freedom of religious belief and respect of the Ethnic minorities’ folkways and customs. The history of Tibet’s currency laws could also prove that respect of the ethnic minorities’ folkways and customs is positive important.