Self-Strengthening Movement [SEP] end time
Self-Strengthening Movement
The Self-Strengthening Movement (), also known as the Westernization or Western Affairs Movement () or Tongzhi Reforms (), c. 1861 – 1895, was a period of institutional reforms initiated in China during the late Qing dynasty following the military disasters of the Opium Wars against the British Empire and the vast internal devastation of the Taiping and other concurrent rebellions.
To make peace with the Western powers in China, Prince Gong was made regent, Grand Councilor, and head of the newly formed
By the end of the nineteenth century there were nine foreign banks with forty-five branches in China's treaty ports.[7]
At the time due to unfair treaties, foreign banks enjoyed extraterritorial rights. They also enjoyed complete control over China's international remittance and foreign trade financing. Being unregulated by the Chinese government, they were free to issue banknotes for circulation, accept deposits from Chinese citizens, and make loans to the qianzhuang.
History Government banks.
After the launch of the Self-strengthening movement, the Qing government