History of the Republic of China its remaining islands in Fujian as vital for any future campaign to defeat the PRC and retake mainland China. On 3 September 1954, the First Taiwan Strait Crisis began when the PLA started shelling Quemoy and threatened to take the Dachen Islands. On 20 January 1955, the PLA took nearby Yijiangshan Island, with the entire ROC garrison of 720 troops killed or wounded defending the island. On January 24 of the same year, the United States Congress passed the Formosa Resolution authorizing the President to defend the ROC's offshore islands. The First Taiwan Straits crisis ended in March 1955 when
Central Bank of the Republic of China (Taiwan) China. Following the success of the Northern Expedition, the Central Bank took over the role of central bank for China from the Bank of China in 1928, with its headquarters in Shanghai. Before 1949, it was one of China's "Big Four" national banks, along with the Bank of China, Bank of Communications, and Farmers Bank of China. After the loss of mainland China in the Chinese Civil War by the Kuomintang (KMT) and its subsequent retreat to Taiwan in December 1949, the Central Bank of China also moved along with the government to Taiwan. Until it was re-established as central