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| 正面描述 | Central oval vignette with a portrait of Sun Yat-sen in red intaglio print, flanked symmetrically on both sides by ornate guilloche rosettes and the denomination characters 壹萬圓 repeated in each corner. The bank name 中央銀行 is printed in large characters across the top, with the serial number appearing twice in the upper portion of the note. The entire design is printed in a uniform red on white paper with fine geometric underprint patterns. |
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| 背面铭文 | THE CENTRAL BANK OF CHINA TEN THOUSAND YUAN 1947 Thomas De La Rue & Company, Limited London |
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By 1947, the Central Bank of China was printing in denominations that would have been unthinkable a decade earlier. Hyperinflation driven by wartime military expenditure and postwar Nationalist-Communist hostilities was destroying purchasing power faster than the presses could respond — the 10,000 Yuan note, enormous by prewar standards, was becoming inadequate almost as soon as it circulated.
Thomas De La Rue printed this in London while China was in open civil war. The logistical reality of commissioning high-denomination emergency currency from a British security printer 8,000 miles away says something about the Nationalist government's continued reliance on foreign printing infrastructure even as its political position was collapsing.