The trend of foreign banks issuing money in China was consistent with the route of foreign powers invading China, first from trading ports, then to the border area, then to the hinterland of Beijing and Tianjin, and then to urban and rural areas throughout China, which resulted in the resistance of Chinese officials, gentry, merchants and people. Northeast China is an area of intense attack and defense between China and foreign countries. During the period of late Qing Dynasty and the Republic of China, with the awakening of the Chinese nation, China tried to recover its financial sovereignty. The main measures taken by China mainly include establishing China's banking system; actively issuing Chinese banknotes; restricting foreign banknotes in China. After the legal tender reform in 1934, foreign banknotes withdrew basically form the issuing market of China. However, the final victory of the currency war would not be realized until the founding of the People's Republic of China.