Combating Speculators And Winning The Battle Of Gauze

In the 947 year, Qian Zhi Guang (middle) and some comrades who were ordered to develop overseas trade were in Yantai.

In June 1949, the Shanghai military Regulatory Commission took resolute measures and won the battle with the old economic forces "Silver Dollar War". Shanghai's market prices were calm for more than 10 days.

In this case, speculators changed from silver dollar speculation to rice, gauze and coal speculation, and prices began to fluctuate.

People in Shanghai and other places are generally worried about the further deterioration of the economic situation. Comrades in charge of financial work all over the country feel the situation is serious and demand prompt and effective measures.

During the Shanghai financial conference, a series of important decisions were made in response to the challenges of speculative capital and the suppression of price fluctuations, including: Shanghai cotton mill did not move, and efforts to maintain production; to increase the purchase of cotton by Renminbi to ensure the operation of Shanghai spindles; to organize a unified flower gauze company to supply cotton to the mills uniformly, to purchase the gauze products uniformly, to restore and develop pportation, so that the materials such as coal, grain and cotton could be pported into Shanghai, and the industrial products of Shanghai could be pported out.

So that the state can grasp enough quantity of food and gauze, and become the main means to stabilize the market and control prices.

Prices were relatively stable in the two months after the meeting.

In October 15, 1949, prices rose again.

Shanghai and Wuhan are headed by gauze and Tianjin is headed by grain.

In this regard, the finance and Finance Commission held two meetings in November 1st and 5. Chen Yun and participants analyzed the causes of soaring prices, studied ways to shrink currency, sell materials and strengthen market management, and cautiously chose to take measures to stop prices rising.

In November 13th, the China Finance Commission issued 12 instructions issued by Mao Zedong and Zhou Enlai to each place, including:

Third, in order to ensure the supply of gauze in Hankou and Hunan and Guangdong provinces, Qian Qian Guang will go to Hankou after Shanghai first, and adjust the stock of gauze in both places in order to act.

At the same time, it urges the East China cotton movement to ensure the raw materials needed for the production of gauze in Shanghai.

Fourth, the northwest Finance Commission dispatched the gauze along the Longhai Road to Xi'an as quickly as possible.

Fifth, the Ministry of finance should hand over 210 million kg of public grain to the Ministry of Commerce in the north and plain provinces of the De Shi railway in from November 16th to 30th to cope with the grain sales needed in the cotton producing areas.

Sixth, the people's Bank of China and its main branches will be suspended from other businesses until the beginning of the day, except for those approved by the Finance Committee and the Finance Committee of the people's Republic of China for special needs.

During this period, loans should be refunded on an approximate basis.

Eleventh, at present, all trading companies in the region should not sell large quantities of major materials except for those who have to deal with the sellers.

The main materials should be pported from all sides to the main locations, and will be completed in November 25th (at least 30 days). It will be sold in the main cities of the country in late November and early December.

At that time, as a member of the finance and Finance Commission, Qian Zhi Guang, who was appointed as vice minister of the Ministry of textile industry of the Central People's government and Secretary of the Party branch of the Central People's Government in October 19th, was assigned by the Finance Committee of China to dispatch the stock gauze in Shanghai and Hankou, so as to implement the decision of the Finance Committee of China.

After finding out the production, stock and market situation of gauze in Shanghai, he pferred some of Shanghai's stock gauze to Hankou and personally escort it.

When the gauze arrived in Hankou, Liu Yiqing, Zeng Chuan six, a member of the Central Committee of the CPC Central Committee, was delighted to see that the warehouse was full of gauze.

This batch of gauze ensured that the Wuhan market unified operations with the major cities in the end of November and early December, and sold a lot, thus stabilizing prices.

Qian Zhi Guang handed the gauze to the Finance Committee of the Central Committee of the CPC Central Committee and returned to Beijing to continue the work of the Ministry of textile industry.

A purposeful, organized and orderly battle to stop prices skyrocketing and crack down on speculators was immediately launched nationwide.

Chen Yun worked strategicially, commanding trade, banking and finance to work together, and the major cities unified operations. In November 25th, a large number of grain and gauze were sold and the success of stabilizing prices was achieved. It not only stabilized the hearts of the people, but also impressed the private entrepreneurs.

Mao Zedong spoke highly of the economic struggle organized by the finance and Economic Commission of China, focusing on Shanghai and involving the whole country, meaning "no less than the Huai Hai Campaign".

At that time, Rong Yiren, general manager of the general management office of Shanghai Shenxin textile company, said: "the Chinese Communist Party can stabilize prices without political power, and give a lesson to Shanghai's business community."

And said: "the silver dollar trend in June, the Chinese Communist Party is pressed down with political power, this time only can use the economic strength to be able to stabilize, is Shanghai industrial and commercial circles cannot anticipate."

From the Central Finance Commission of the Central Military Commission, the Central Finance Commission was set up and started to work, and the financial committee of the Central People's government administration was established for six months.

The finance and accounting Commission has done a lot of effective work in unifying the national financial management, trying to stop inflation for many years, and achieving social and economic stability. It has laid the foundation for the new China's economic management system and brought the national economy to a gradual recovery and development road.

Under the direct leadership of Chen Yun, Qian Zhi Guang witnessed, witnessed and participated in the whole process, and did a lot of work in the front line.