1 Yuan Central Bank of China

The Central Bank of China's 1936 1 Yuan belongs to a series that was still rolling off presses in Shanghai as Japanese forces consolidated control of Manchuria and pressed south. Chung Hwa Book Co. was one of several domestic printers the Nationalist government used to reduce dependence on foreign security printers — a deliberate policy shift from the earlier reliance on firms like American Bank Note Company.

The Lichia/Rung signature combination places this note within a specific administrative window at the bank. Rung Tse-yuan served as Governor during the mid-1930s reforms that consolidated currency issuance under the Central Bank following the 1935 fabi currency reform, which abolished silver coinage and made these notes legal tender backed by managed foreign exchange reserves rather than metal.