In order to strive for larger credit support and more reliable military guarantees, China, France and Russia will not only sign the "Treaty on Mutual Assistance between China, France and Russia", but China and France are also working on a closer military alliance

The relationship was in secret negotiations, and China took a fancy to the francs, while France also took a fancy to the Northeast Army.

Germany's final mediation and efforts failed to prevent the Emperor from signing the "Treaty of Mutual Aid for China, France and Russia". After this treaty came into effect, China also signed the "Treaty of Strategic Reciprocity and Trade" with France and Russia respectively.

Russia obtained a total of approximately 285 million pounds of government bond loans in installments in five years, equivalent to China's total central fiscal revenue in four years.

With such a huge loan, the central cabinet government can finally formally and vigorously promote 175 national industrial plans, which seems to mean that a new era is coming.

In February 1912, China and Britain further signed the Sino-British Treaty on the basis of the Tianjin Peace Agreement and made the final delivery of customs rights. With such a basis, in mid-March, the parliament could not wait.

Approve the Industrial Protection Act and increase tariffs to protect the most basic national industries such as textiles, flour, hardware, and steel.

While increasing the import tax rate, Congress also introduced the "Interim Financial Freedom Act" to open up the domestic financial industry and ban the currency issuance rights of foreign countries in China and local governments. Even the bills including Kanto Silver Round need to be exchanged and returned within a time limit.

The issuance rights are limited to the central bank only.

However, as long as the bank has enough foreign exchange reserves such as gold and pounds, francs, and US dollars, it can overflow these gold and gold standard foreign exchange at a rate of 1.2 to 1.5 to exchange them for Chinese yuan coupons, sharing the central bank's right to print money, and when returning to the exchange, it is necessary to redeem the currency.

, the overflowing part will be rediscounted after paying currency VAT.

To put it simply, every time a bank injects one pound into the Chinese credit market, it can obtain 20% to 50% of the rebates. When withdrawing funds, it will charge the rebates. The credit income of the rebates also has higher additional value-added tax, so as to

This attracts foreign capital inflows and restricts foreign capital outflows.

In addition, the overflow rights are limited to large franchised banks holding national-level bank operating licenses. In terms of license authorization standards, foreign banks have higher requirements, and relatively low requirements for joint venture banks and domestic banks.

If this strange financial policy was released during the Qing Dynasty, it would definitely lead to a very strange diplomatic hegemony incident. Foreign countries would force negotiations through portal policies. If negotiations fail, it is a threat of force. In fact, the tax rate can be increased, for 20

China in the century is also rare. The strength of the Northeast Army is one aspect. It is more important to sign the "Treaty of Mutual Assistance between China, France and Russia" before. However, without the battle of the Northeast Army on the Korean battlefield, France and Russia cannot be in trouble.

China signed a treaty of mutual assistance in military affairs.
Chapter completed!