1928, the National Government promulgated the Regulations on the Central Bank, which stipulated that "the central bank is a specialized national bank and the highest financial institution in China, which is operated by the state through fund-raising". 1 928165438+1October1,the central bank was established in Shanghai, with Song Ziwen as its president, having the privileges of issuing paper money, minting national currency, managing the national treasury, managing domestic and foreign bonds and buying and selling foreign exchange. At the same time, the National Government reorganized Bank of China and Bank of Communications by increasing official shares and sending personnel. 1935, 1933 The farmers' bank in four provinces of Henan, Hubei, Anhui and Jiangxi was reorganized into the farmers' bank of China. In addition to the four major banks, the National Government has also set up two major financial institutions, the Central Trust Bureau and the Postal Savings and Remittance Bureau, to monopolize financial undertakings such as trust and insurance. At the same time, the national government also intervened in second-rate banks such as "Small Four Banks". In this way, a financial monopoly network centered on "four lines and two bureaus" was established.
While completing the financial monopoly, the national government also began to control other economic fields. The State Construction Committee, the State Economic Committee and the State Resources Committee have been established successively. On the eve of the Anti-Japanese War, the National Government mastered most of railways, highways, shipping, posts and telecommunications, controlled two-thirds of domestic commodity circulation, and grasped the lifeline of the national economy through monetary, credit and foreign exchange policies.