Study On The Fief Liang Gai Yuan Policy Of KMT Government

It is an important affair that KMT changed the currency measuring standard Liang to Yuan (also called Fief Liang Gai Yuan) in 1930s, which ended the mess of Chinese currency condition. With abolishing the old currency measuring standard Liang, the KMT government both made the Yuan as a new standard and issued Yin Yuan to all over the China.Abolishing Liang and Changing to Yuan (also called Fei Liang Gai Yuan) is an important event on China's financial modernization process. It ended China's tumultuous multifarious monetary conditions and canceled Yin—and—Liang system, which hindering China's economic development for a long time. Releasing unified silver currency in nationwide, the Nanjing KMT government changed China's currency from material form to counting form in weighing monetary evolution field, which showed a huge progresses in the currency history. At the same time, Fei Liang Gai Yuan policy was also a necessary step that the KMT government strengthening regime, monopolizing banking system in the early 1930s, with the domestic and international environment's mutual influence.Taking Fei Liang Gai Yuan policy as a research object, this essay discusses the necessity of the policy to the Nan Jing KMT government based on both long-term factors and short-term factors of the implement of the policy. On the analysis of the inner relationship between the implement of Fei Liang Gai Yuan policy and Chinese economic status, this essay will not only analyze the connection between Fei Liang Gai Yuan policy and the government's aim of seeking regime solid, but also the role of implementing this policy in the national government economic recovery and strengthening monopoly.The main part of the article is divided into four parts to elaborate:The first part, analyzing the background of Fei Liang Gai Yuan policy, expounds that this policy was a product which was influenced by both the long-term factors that the monetary conditions chaos appeared in China since modern times and the short-term factors that the price falling of silver in world market and KMT government crisis.In the second part, the paper shows a series of KMT government's currency reform exploration before the Fei Liang Gai Yuan policy.The third part, analyzes the process, direct opportunity and implementation in Shanghai and all over the China of Fei Liang Gai Yuan policy.The fourth part analyzes the role of Fei Liang Gai Yuan policy to nullify the Nanjing KMT government regime in the following aspects, monopoly finance and promote economic. At last, the paper points out the lack of thoroughness due to retain the YinBenWei system.To summarize the argument, the epilogue part points out that the Fei Liang Gai Yuan policy is necessary steps of China's financial modernization.