Chiang Kai-shek’s fellow-townsman secretary turned central banker, premier when martial law was lifted in 1987
Born in 1914 in Fenghua, Zhejiang, Chiang Kai-shek’s home county, he graduated from Tsinghua University in 1934 and worked as a secretary in Chiang’s personal office. After studying at Harvard and the London School of Economics he served at the World Bank and the IMF, returning to Taiwan in 1955. He became minister of finance in 1967 and for fifteen years from 1969 was governor of the Central Bank, holding down inflation through two oil crises. He succeeded Sun Yun-suan as premier in 1984; under him, in 1987, Taiwan’s 38 years of martial law were lifted and the bans on new parties and newspapers ended. Attacked by Lee Huan’s faction after Chiang Ching-kuo’s death, he resigned in 1989. He died of leukaemia in 2000.
Also known as: Yu Guohua
Activities and affiliations
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1934–1944
Republic of China state institutionsSecretary in Chiang Kai-shek’s Office of Aides
Government and administration -
1967–1969
Republic of China state institutionsMinister of Finance
Economy, finance and planning -
1969–1984
Republic of China state institutionsGovernor of the Central Bank
Economy, finance and planning -
1969–2000
Political and party leadership
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1984–1989
Republic of China state institutionsPresident of the Executive YuanHeads of state, government and party of ChinaMain
Political and party leadership
Career Timeline
- 1934.07–1944.05Served in Chiang Kai-shek’s field headquarters and personal office
- 1944.09–1947Studied at Harvard and the London School of Economics
- 1947–1955Alternate executive director at the World Bank and the IMF
- 1955–1961Director of the Central Trust of China
- 1967.11.29–1969.06Minister of Finance
- 1969.06–1984.06Governor of the Central Bank
- 1977.12–1984.06Chairman of the Council for Economic Planning and Development
- 1984.06.01–1989.06.01President of the Executive Yuan
- 1996Vice-Chairman of the Kuomintang