[1] [2]: 32 He played an instrumental role in Taiwan's economic stabilization in the 1950s and was one of few Taiwanese officials in that period who consistently promoted free trade.
Yin's ancestral home was in Taiyi Township (Tuanshan Town, Shaodong County-level city), Shaoyang Prefecture, Hunan.
In addition to being in charge of the Central Trust of China (中央信託局), he also served as the vice chairman of the Taiwan District Production Management Committee (臺灣區生產事業管理委員會), responsible for industrial regeneration and external procurement.
Yin Chung-jung, together with Li Kwoh-ting, Yen Chia-kan, and Sun Yun-suan, was among the main officials in charge of finance and foreign trade.
In 1951, the United States provided financial support to the Republic of China for an annual amount of US$100 million, and Yin participated in the overall planning and use of US aid funds.
In March, legislator Guo Zijun (郭紫峻) pointed out that after the bankruptcy, the Central Trust had lent the company a large amount of money and claimed compensation.
During the period, Yin assisted private enterprises with official policies such as tariff protection and restrictions on the establishment of factories, applied for US aid on their behalf, and then tracked and evaluated them afterwards to avoid failure.
During his tenure as chairman, he encouraged savings, stabilized prices, and promoted active lending to domestic small and medium-sized enterprises.
Soon, the straight hundred-dollar bills were scheduled to be issued on 19 June 1961, and under the supervision of the Bank of Taiwan and other institutions, the feared episode of inflation did not occur.
Under this concept, in addition to strengthening private competitiveness and import substitution, he has always advocated that planned free trade can promote economic growth.
During his tenure at the Transport Ministry, he began to compile the chronicle of Guo Songtao, one of China's first diplomatic envoys to foreign countries, and also helped write annotations to the Lüshi Chunqiu.
He was largely responsible for persuading key government officials to reform the foreign exchange system in order to orientate Taiwan's economy to the world market.