Emprunt Industriel Du Gouvernement de la Republique Chinoise - 1914 dated Chinese 500 Francs Bond
Inv# FB6625 Bond
France
500 Francs, 5% Bond with coupons. 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 Republic of China (ROC), established in 1912, was a sovereign state recognized as the official designation of China until the relocation of its central government to Taiwan during the Chinese Civil War in 1949. With a population of 541 million in 1949, it held the distinction of being the world’s most populous country at the time. Covering an expansive area of 11.4 million square kilometers (4.4 million square miles), the ROC encompassed 35 provinces, 1 special administrative region, 2 regions, 12 special municipalities, 14 leagues, and 4 special banners.
However, the People’s Republic of China (PRC), which currently governs mainland China, views the ROC as a country that ceased to exist after 1949. Consequently, the history of the ROC before 1949 is often referred to as the Republican Era of China. In contrast, the ROC, now based in Taiwan, has adopted a different perspective. It considers itself a continuation of the country and refers to the period of its mainland governance as the Mainland Period of the Republic of China in Taiwan.
The Republic of China was established on January 1, 1912, following the Xinhai Revolution, which overthrew the Manchu-led Qing dynasty, the last imperial dynasty in China. On February 12, 1912, Empress Dowager Longyu signed the abdication decree on behalf of the Xuantong Emperor, effectively ending several millennia of Chinese monarchical rule. Sun Yat-sen, the founder and provisional president of the Republic, served briefly before passing the presidency to Yuan Shikai, the leader of the Beiyang Army. Sun’s party, the Kuomintang (KMT), led by Song Jiaoren, won the parliamentary election held in December 1912. However, Song was assassinated on Yuan’s orders shortly after, and the Beiyang Army, led by Yuan, retained complete control of the government. In 1915, the Beiyang government proclaimed the Empire of China but later abolished the monarchy due to popular unrest. After Yuan’s death in 1916, the authority of the Beiyang government was further weakened by a brief restoration of the Qing dynasty. The largely powerless government led to the fragmentation of the country as cliques within the Beiyang Army claimed individual autonomy and engaged in conflicts with each other. This marked the beginning of the Warlord Era, a decade of decentralized power struggles and prolonged armed conflict.
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.
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