100 Yuan Bank of Central China

The Bank of Central China (中華銀行) was a Japanese-sponsored institution operating in occupied central China during the Second Sino-Japanese War. By 1945, military and supply lines were collapsing, inflation was accelerating sharply across all occupation currency systems, and high-denomination notes were being pushed into issue as purchasing power eroded. This 100 Yuan note belongs to that final, increasingly desperate phase of Japanese-backed monetary administration in the region.

The S-prefix in the Pick reference reflects its classification as a local or regional issue rather than a national one — a distinction that also affected postwar redemption policy, as occupation-era regional notes were systematically demonetized following Japan's surrender in August 1945.