@trig That’s strong evidence, and I cannot argue with the brightness of the roundel in Shensi. However, note Nanking. It is printed in red, is a city, and has a star indicating a major power capital. Shensi is a territory name, not a city name.
I could be misremembering here, but I don’t think the city names in being red necessarily actually mean any thing in-game. I think that’s just there stylistically. Constantinople is in red, for example, but that isn’t Turkey’s capital city/territory, and the Constantinople territory itself doesn’t have any special usage in-game either.
I guess to me, 1.3 Colors and Roundels covers this:
“All Nations on the map are identified by a color and a roundel. Nations that have more than one land zone have the brightest roundel located on their capital and muted roundels in other locations.”
That to me makes it pretty clear that Nanking serves as the KMT capital, and so would be subject to the KMT losing it’s IPP to the bank if taken.
It also makes me believe then Shensi would serve as the CCP capital since it’s the only territory they possess, and I would agree with @Trig that the roundel does look to be brighter like other single-territory countries.
However, to play devil’s advocate, the CCP and KMT reference sheets both list as Chinese Home Country “All starting KMT, CCP, and Warlord land zones, Formosa, Hong Kong, Rehe, Northern, Western and Eastern Manchuria”. When you look at that, it could give credence to a single capital for both factions being Nanking.
I ultimately think that Shensi serves as the CCP capital though, and if taken the CCP loses all IPP to the bank. But this is a very interesting topic that I’m certainly not certain on!