100 Yuan Aerospace

Issued as a commemorative note rather than a circulating series note, this is one of a handful of PRC commemoratives printed on paper rather than polymer — a deliberate choice given the aerospace theme, which China was keen to position as a prestige issue without the production lead times polymer substrate requires. It was released to mark China's achievements in space exploration, including the Shenzhou manned missions and the Chang'e lunar program.

Watermark-only security is notably sparse for a 100 Yuan denomination in this period, when circulating PRC notes carried far more complex protection. That restraint reflects its commemorative status — these were sold to collectors at face value through banks, rarely entered everyday circulation, and most remain uncirculated by default.