Da-Qing Bank

The large number of private notes that were being produced all over the empire was to be restricted by introducing a stamp duty (印花稅).

Reformer Liang Qichao campaigned for the government of the Qing dynasty to emulate the Western world and Japan by moving from the silver standard to the gold standard,[6] unify the currencies of China, and issue government-backed banknotes with a ⅓ metallic reserve.

[7] In 1904, the Ministry of Revenue officially authorised the creation of a central bank,[5] with the primary intent to help finance government deficits by issuing paper money.

[12] Following the Chinese tradition of issuing new money in a new reign, the Xuantong administration had the design of the official Da-Qing Bank paper notes somewhat changed to herald in the new emperor.

The new design was inspired by the designs of the banknotes of the United States dollar of this era; some banknotes showed the portrait of Li Hongzhang, and others depicted that of the emperor's father, Zaifeng, Prince Chun, who was the sitting regent of the infant monarch.