This photo was printed in Familie-Journalen in June 1927, accompanied by the following text:
Can you cross the barbwire fence? These are pictures taken in the French Concession in Shanghai. It directly borders the Chinese city, Annamite soldiers guard the barbwire fence, but the Chinese woman can still slip through (Familie-Journalen 22, juni 1 1927 p25).
Annam was the name for a French protectorate covering part of modern Vietmam. The French drafted Vietnamese soldiers as auxiliaries in the defense of white Shanghai against the nationalist Guomindang army in spring 1927. Several European countries, as well as the US and Japan sent troops, both national and colonial, in support of the volunteer crops of the white Shanghailanders.
The article was likely of British origin as Familie-Journalen bought most of its material from the British Amalgamated Press, one of the world's largest publishing houses with publications across the British Empire. By the time the photo was printed, the barbwire was long gone as the concessions and the Guomindang leader Chiang Kai-shek initiated a strong partnership in mid-April. The basis for this partnership was an alliance between Chiang, the white inhabitants and the gangster of The Green Gang to eliminate the Communist wing of the Guomindang.