The Sinkiang Commercial and Industrial Bank was one of several regional institutions operating in Xinjiang under the effective influence of Soviet-backed warlord Sheng Shicai, whose administration maintained closer ties to Moscow than to Chongqing throughout the late 1930s. Currency issued under these conditions often circulated in parallel with Soviet-influenced monetary arrangements, keeping the province economically semi-detached from the Nationalist government's banking system.
The 1 Fen denomination is among the lowest-value pieces from this series, suggesting it was intended for everyday retail transactions in a region where small coinage was chronically scarce. Notes of this type rarely survived circulation intact given the casual treatment low-denomination paper typically received.
The Sinkiang Commercial and Industrial Bank was one of several regional institutions operating in Xinjiang under the effective influence of Soviet-backed warlord Sheng Shicai, whose administration maintained closer ties to Moscow than to Chongqing throughout the late 1930s. Currency issued under these conditions often circulated in parallel with Soviet-influenced monetary arrangements, keeping the province economically semi-detached from the Nationalist government's banking system.
The 1 Fen denomination is among the lowest-value pieces from this series, suggesting it was intended for everyday retail transactions in a region where small coinage was chronically scarce. Notes of this type rarely survived circulation intact given the casual treatment low-denomination paper typically received.