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10 Yuan Bank of Shansi, Chahar, & Hopei
| Issuer | Bank of Shansi, Chahar & Hopei |
|---|---|
| Year | 1943 |
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| Currency | Yuan (1935-1946) |
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| Obverse description | Printed in red on cream paper. Central vignette shows a shepherd with a large flock of sheep in a mountainous landscape. Serial number appears twice in the upper margin, with Chinese denomination characters and bank title in the upper border. |
|---|---|
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| Reverse description | Printed in red. Central numeral '10' set within an ornate guilloche underprint flanked by two circular rosette medallions. Upper banner carries the English bank title, lower ribbon reads 'TEN YUAN / LOCAL CURRENCY / 1943', with fine lathe-work border running the full perimeter. |
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| Comments |
The Bank of Shansi, Chahar & Hopei was a Japanese-sponsored institution established in 1938 to manage currency in the occupied territories of North China. Its notes displaced the legal tender of the Nationalist government by design — the occupying administration used currency replacement as a deliberate economic weapon, flooding the region with new paper to drain local silver and commodity reserves.
By 1943, inflation in occupied North China was accelerating sharply, driven by wartime procurement and Japanese military note issuance running parallel to this series. Notes from this period circulated hard and fast.