Economic reforms

• Economic reforms:

  • In 1906, the Ministry of Agriculture, Industry and Commerce was set up to encourage agricultural, industrial and commercial development.
  • For instance, agricultural schools were set up to research and promote new agricultural methods.
  • Industrial promotion exhibition hall was set up to promote the products China made.
  • State banks such as Ta-Ching Bank and private banks were opened to help enterprises raise capital.
• Economic reforms:

  • In 1910, a national budget was passed by the National Assembly to balance income and expenditures.
  • The Qing government also raised loans from Western countries to finance reforms such as the nationalization of the main railways in 1911.