10 Yuan Tung Pei Bank of China

The Tung Pei Bank of China was established in 1945 by the Chinese Communist Party to serve Manchuria following the Soviet expulsion of Japanese occupying forces. This 10 Yuan note belongs to the earliest phase of that institution's operation, when the Communists were consolidating financial control over the northeast ahead of the full civil war against the Nationalists. The bank's notes circulated in direct competition with Nationalist-backed currency in the same territory — a deliberate destabilization tactic as much as a practical monetary measure.

The "Tung Pei" designation simply means Northeast, and the bank was eventually absorbed into the People's Bank of China after 1948.