10 Yuan Bank of Central China

The Bank of Central China was a collaborationist institution established under the Wang Jingwei regime, which operated as a Japanese-backed government controlling significant portions of occupied China during the Second Sino-Japanese War. Notes issued under this authority served occupied territories rather than any independent Chinese monetary structure, and their acceptance was enforced through occupation pressure rather than market confidence.

Pick S3355 falls within a series printed during a period of accelerating wartime inflation, when the competing currency systems — puppet bank notes, Nationalist fabi, and Communist border region currencies — were all actively undermining each other as instruments of economic warfare. Counterfeiting of collaborationist notes by Nationalist agents was documented and officially sanctioned.