T. V. Soong
The Nationalist government created the Central Bank of China in 1928, with T. V. Soong as its first president. The Bank of China was reorganised as a bank specialising in the management of foreign exchange while the Bank of Communications focused on developing industry. The Central Bank of China when it was established had its headquarters in the economically most influential city of Shanghai, and the entire country was formally put on a Chinese silver-dollar (yuan) standard.