10 Yuan Bank of Pei Hai

The Pei Hai Bank was the Communist Party's regional bank for the Shandong-Bohai base area, operating under direct control of the Eighth Route Army's financial apparatus. Its notes circulated in territory that was actively contested — Japanese-controlled cities, Nationalist zones, and Communist-administered rural districts often abutted one another, and currency acceptance depended entirely on which armed force happened to control a given village that week.

The unlisted Pick status reflects how poorly documented these wartime Communist base-area issues remain in Western reference literature. Many notes from this bank survive only in Chinese institutional collections.