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1 Yuan
| Issuer | People's Bank of China |
|---|---|
| Year | 1948 |
| Type | Standard circulation banknote |
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| Reverse description | The reverse is printed in red-brown and composed entirely of elaborate guilloche scrollwork and interlocking floral ornaments. A central circle encloses the Chinese character 壹, framed by symmetrical pillar motifs and foliate arabesques. The bank title 中國人民銀行 appears at top, with the year 1948 inscribed at the bottom centre, and numeral 1 repeated in the four corner panels. |
| Reverse lettering | 中國人民銀行 壹 1948 (Translation: People's Bank of China One 1948) |
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| Comments |
Pick 800 is the first note ever issued by the People's Bank of China — dated 1 December 1948, the same day the bank was formally established in Shijiazhuang, Hebei. The renminbi began here, not in Beijing, and not after the Communist victory was secured: it was a wartime currency, introduced while the civil war against the Nationalists was still being fought across much of the country.
Printed under severe wartime constraints by regional presses, the note lacks the technical refinement of later PBC issues. Paper quality and ink consistency vary noticeably across surviving examples as a direct result of those production conditions.