Former Site of the National Bank of the Chinese Soviet Republic

Former Site of the National Bank of the Chinese Soviet Republic

The former site of the National Bank of the Chinese Soviet Republic is a cultural tourism attraction and a classic red tourism destination.

The former site of the National Bank of the Chinese Soviet Republic is located at the intersection of Yangliu Street in the Old Town of Honghuagang District. The site was originally the private residence of Major General You Guocai, Deputy Commander of the 25th Army of the Guizhou Clique, built in the late 1920s. It features a sloped roof, small blue tiles, and a post-and-lintel wooden frame, all typical of traditional northern Guizhou residential architecture. The building covers an area of 1,155 square meters. On November 21, 1931, the first meeting of the Provisional Central Executive Committee of the Chinese Soviet Republic decided to establish the national bank. Since then, a complete, independent, and new financial system gradually took shape in the Central Soviet Area, becoming an important pillar of the base area's economy and playing a significant role in resisting the encirclement campaigns launched by the -ist army. In mid-October 1934, 14 comrades from the national bank were assigned to the 15th Company of the direct command column of the Military Commission. Several hundred people took turns carrying over a hundred loads, transporting gold, silver, silver dollars, as well as the paper, machines for printing currency, all under the protection of a company, as they began the Long March. In early January 1935, after the Red Army captured Zunyi, to ensure logistical support for the troops’ operations, the Central Committee decided to establish the Confiscation and Requisition Committee. Lin Boqu, Minister of Finance of the Soviet Area, served as the director, with Mao Zemin as the deputy director. Its tasks were to uphold and implement the Party’s ethnic policies, its policies toward local tyrants and evil gentry, collect grain and raise funds to supply the troops or distribute to the masses. Comrades from the Confiscation Committee and the national bank used the opportunity of the troops’ rest and reorganization to carry out historic currency issuance and withdrawal work. At the time, each Red Army soldier had only a small amount of pocket money. To allow the soldiers to buy essential small items during their stay in Zunyi City, the bank publicly issued currency printed in the Soviet Area. At the same time, considering that Soviet currency would no longer be usable after the troops departed—and to avoid harassment or - by the enemy against civilians using Soviet currency—the national bank issued a notice in the name of the bank: inviting people from all walks of life to exchange Soviet currency. Exchange points were set up at Lion Bridge, Dingzi Intersection, and Wanshou Bridge, among others, allowing the public to freely exchange currency at market prices. This not only helped maintain and enhance the credibility of the Soviet currency but more importantly, countered the reactionary propaganda by the - clique against the Chinese Communist Party and the Red Army, raising the political consciousness and revolutionary enthusiasm of the people. At the same time, it also helped sustain the Red Army’s funding. In 1999, the Zunyi Municipal Government allocated special funds to restore the former offices of the Confiscation Committee and the National Bank of the Chinese Soviet Republic.

Location

Intersection of Yangliu Street, Old Town, Honghuagang District, Zunyi City