10 Yuan Farmers Bank of China

The Farmers Bank of China was established in 1933 under the Nationalist government to extend agricultural credit and undercut the grip of rural moneylenders — a genuine policy ambition that became increasingly subordinated to wartime finance after the Japanese invasion. By 1940, the bank was one of the four state banks effectively printing money to fund Chongqing's resistance economy, and inflationary pressure was already embedded in the system before notes like this one even reached circulation.

The China Taye Printing Company handled a significant share of wartime currency production inside Nationalist-held territory after the major coastal printing facilities were lost or cut off. Attributing specific runs to specific presses during this period is difficult — production records were fragmentary and some were destroyed.