10 Yuan

The Central Reserve Bank of China was a puppet institution established by the Japanese-backed Wang Jingwei regime in Nanjing in 1941. Its notes were legal tender only within Japanese-occupied territories and were part of a deliberate strategy to displace Chongqing-issued fabi currency — holders of fabi were pressured or forced to exchange into CRBC notes at unfavorable rates, effectively transferring real economic value to the occupation administration.

The J-prefix Pick numbering reflects the Allied Forces' wartime "Japanese Occupation" classification. Notes from the 1943 printings circulated heavily in coastal urban centers and are frequently found with heavy soiling and fold fatigue consistent with dense mercantile use in Shanghai's occupied commercial districts.