<p><strong>Red Finance, CPC’s Legendary Undertaking in the Revolutionary Years</strong></p>
<p>In the revolutionary war years, the Communist Party of China persisted in their struggle under difficult circumstances. The financial institutions constructed in the revolutionary base areas were often referred to as “Red Finance.”</p>
<p>After the failure of the “Great Revolution” and the China’s revolution movement entered a low ebb, the Chinese Communists moved their battlefield to the areas where the Kuomintang’s rule was weak, and established many revolutionary bases. These bases were generally located in the rural areas on shared borders of several provinces. It became the founding place and cradle of the Red Finance.</p>
<p>Since then, the development of “Red Finance” has experienced four phases: the Great Revolution, the Agrarian Revolution, the War of Resistance against Japan, and the War of Liberation. The issuance and governance of the RMB has become a key part of the financial undertaking. The RMB was born on December 1, 1948 and was issued by the newly formed People’s Bank of China. Since then, the development of the RMB and even China’s financial industry has experienced many historical periods. It now entered a glorious stage of modernization and internationalization.</p>
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<p><strong>Pioneers of China’s Capital Market Presented Valuable Advice</strong></p>
<p>The establishment and development of China’s capital market was a crucial step in China’s financial history. It has been a positive force to the development of China’s economy. From 1990 to 2020, China’s capital market grew from small to large and has achieved historical breakthroughs. At present, the scale of China’s stock and bond markets ranks second in the world. Its international influence is increasing day by day.</p>
<p>On the 30th anniversary of the establishmen