History of the Republic of China
On the other hand, since the failure of the Second Revolution, Sun Yat-sen and his allies were trying to rebuild the revolutionary movement. In July 1914 Sun established the Chinese Revolutionary Party (). He felt that his failures at building a consistent revolutionary movement stemmed from the lack of cohesiveness among its members. To that end, Sun required that party members to be totally loyal to Sun and follow a series of rather harsh rules. Some of his earlier associates, including Huang Xing, balked at the idea of such authoritarian organization and refused to join Sun. However, they agreed that the republic must not revert to imperial rule.
Banking in China
After 1949[edit source]
Main article: Banking in the People's Republic of China
The history of the Chinese banking system has been somewhat checkered. Nationalization and consolidation of the country's banks received the highest priority in the earliest years of the People's Republic, and banking was the first sector to be completely socialized. In the period of recovery after the Chinese civil war (1949–52), the People's Bank of China moved very effectively to halt raging inflation and bring the nation's finances under central control. Over the course of time, the banking organization was modified repeatedly to suit changing conditions and new policies.