Scott ELDRIDGE II and Wendell ANDERSON
Bank of China branch in the old Peking (Beijing) Hotel, 1980. Foreigners exchange their money for Chinese currency, in that year called Foreign Exchange Certificates. PHOTO BY JOAN LEBOLD COHEN.
China’s modern banking system emerged from an era in which foreign banks were dominant, developed with little government control to become state-run, and underwent reform and further foreign involvement with China’s opening and eventual accession to the
