1 Yuan / 1 Dollar Bank of Kiang Nau

The Bank of Kiang Nau was a puppet institution operating under Japanese occupation authority in central China. Notes issued under these arrangements in 1945 came at the very end of Japanese control, meaning circulation was brief and redemption essentially nonexistent after surrender — surviving examples often show little wear simply because the notes became worthless before they could accumulate any.

The S-prefix in the Pick reference places this in the Specialized volume for Chinese issues, a category dense with short-lived regional banks whose paper outlasted their issuers by decades.