250,000 Yuan Farmers Bank of China Bond - Red "Farmer's Bond"Inv# FB6208 Bond
$250,000 Republic of China Bond. The Farmers Bank of China. PASSCO authenticated. Article relating to this Chinese item: https://www.bloomberg.com/news/articles/2019-08-29/trump-s-new-trade-war-weapon-might-just-be-antique-china-debt
The Farmers Bank of China was a Chinese bank founded on April 1, 1933, in Hankou (modern day Wuhan) from the amalgamation of provincial agricultural banks in Henan, Hubei, Anhui and Jiangxi. Governed by the Farmers Bank of China Law, the bank was established to stimulate agricultural development by providing lines of credit to farmers and rural landowners. The loans were intended for use to purchase equipment and crops. The bank was initially under majority government ownership.
The bank became one of the four major banks of the Nationalist era of China. Along with the Central Bank of China (currently the Central Bank of the Republic of China), Bank of China and Bank of Communications, the Farmers Bank of China was allowed to issue its own banknotes until 1942.
The bank was relocated to Chongqing in 1937, along with Kuomintang-led Nationalist Government during Second Sino-Japanese War and relocated to the former Japanese colony of Taiwan in 1949 because of the Chinese Civil War. However, it was not until May 20, 1967 that the bank resumed operations after relocating to Taiwan.
The Taiwanese government undertook a reform of the banking industry in 1992 with the listing of state-owned banks on the stock exchange. The Farmers Bank of China was partially privatized in 1994, and all government shares were put on the market in 1999. Accordingly, the Farmers Bank of China Law was repealed by Legislative Yuan in 2005 to complete full privatization of the bank.
The bank was the 14th largest lender in Taiwan until the bank was acquired by the Taiwan Cooperative Bank (合作金庫銀行) on May 1, 2006.
- Xie Dongmin (謝東閔) 1947-1952
- Li Lianchun (李連春) 1952-1972
- Hong Qiaorong (洪樵榕) 1972-1978
- Ye Xinming (葉新明) 1978-1981
- Zhang Xunshun (張訓舜) 1981-1988
- Xu Minhui (許敏惠) 1988-1991
- Luo Jitang (羅際棠) 1991-1994
- Bu Zhengming (卜正明) Feb 1994 - Nov 1994
- Liao Hebi (廖和璧) 1994-1996
- Li Wenxiong (李文雄) 1996-2001
- Liang Chengjin (梁成金) 2001-2004
- Chen Zhong (陳沖) 2004-2006
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.