Two Problems Concerning the Occupation of Guangdong, Guangxi, Sichuan, Yunnan, and Guizhou Must Be Addressed Immediately[1]

(May 28, 1949)

(1) Not only does the East China region urgently need a large amount of Renminbi,[2] which must be promptly supplied; it is also estimated that telegrams from the Central China region requesting an increase in Renminbi will arrive soon, and preparations should be made in advance for this. Moreover, it is necessary to prepare for the Renminbi required after the occupation of the five provinces of Guangdong, Guangxi, Sichuan, Yunnan, and Guizhou in September this year, and arrangements for this must also begin immediately. (2) The cadres needed for the occupation of the five provinces of Guangdong, Guangxi, Sichuan, Yunnan, and Guizhou after September, estimated at 30,000, must also be planned for immediately, and all regions should be notified to comply.

[1] On May 23, Deng Xiaoping, Rao Shushi, Chen Yi, and Zeng Shan telegraphed the Central Committee and the Central Finance Department requesting an emergency allocation of 30 billion yuan in Renminbi. Mao Zedong forwarded this telegram to Zhou Enlai, Zhu De, Liu Shaoqi, and Chen Yun, asking them to discuss the related issues. This directive addresses the two major problems concerning the occupation of the five provinces of Guangdong, Guangxi, Sichuan, Yunnan, and Guizhou. Zeng Shan was then serving as Director of the East China Finance and Economics Commission and Vice Mayor of Shanghai.

[2] Renminbi here refers to the currency in circulation at the time. On March 1, 1955, the People's Bank of China issued a new Renminbi to replace the old currency in circulation, with 1 new yuan equivalent to 10,000 old yuan.