100 Yuan

This note belongs to the First Series Renminbi, issued by the People's Bank of China almost immediately after its founding in December 1948 — making it among the earliest standardized currency of the People's Republic. The First Series was printed under extremely difficult wartime conditions, with multiple regional facilities producing notes simultaneously, which accounts for the considerable variation in paper quality and print registration found across denominations of this series.

High-denomination notes like this one circulated hard during the inflationary transition period as the new government worked to displace both Nationalist currency and regional military scrip. First Series notes were eventually demonetized in 1955 at a conversion rate of 10,000 old yuan to 1 new yuan.