Chinese Communists, Border Currency, and Agricultural Credit during Wartime

  • Hong Fu
  • Calum G. Turvey


During the war of aggression with Japan, Japanese forces occupied large sections of land in both North and South China. What is not well understood is how farmers obtained credit in occupied territories. This chapter explores a particularly interesting story of agricultural credit in China, which in several seemingly unrelated parts, occurred within the communist ‘controlled’ border regions that saw the Communist Party of China (CPC) issuing its own banknotes not only for its own transactions, but also for making loans. The three component parts of interest are the designation and administration of border regions, the issuance of currency within these regions, and the advent of agricultural taxation based upon units of grain. These are expanded and linked together in this chapter to provide an overall sense of credit and credit systems in the base areas.

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© The Author(s) 2018

Authors and Affiliations

  • Hong Fu
    • 1
  • Calum G. Turvey
    • 2
  1. 1.Shandong University of Finance and EconomicsJinanChina
  2. 2.Cornell UniversityIthacaUSA

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