In the early twentieth century, when the Communists gained territory, they set up revolutionary base areas (also known as soviets), and issued new coins and notes, using whatever expertise, supplies and technology were available. Like coins and banknotes all over the world, these played an important role in economic and financial life, and were also instrumental in conveying images of the new political authority. Since 1949, all regular banknotes in the People’s Republic of China have been issued by the People’s Bank of China, and the designs of the notes reflect the concerns of the Communist Party of China.
Throughout the collective period, millions of rural Chinese continued to wear handloom cloth, and rural women continued to spend much of their working hours spinning, weaving, and making cloth and clothing. In theory, manual spinning and weaving should have ended after 1949, since every Chinese citizen had access to factory cloth through the rationing system. In actual fact, rural rations fell short of replacement needs, and women worked double shifts to clothe their families. Women’s unrecognized domestic work enabled the state to undersupply the countryside and direct scarce resources to the cities.