The Bank of Pei Hai was the currency authority of the Shandong-Jiasu Border Region, one of several Communist-administered areas operating their own financial systems during the later years of the Second Sino-Japanese War. Notes from this institution circulated alongside — and frequently in competition with — Japanese Military Yen and the puppet regime's Federal Reserve Bank issues, all three competing for legitimacy in the same contested territory.
1945 production for this issuer was disrupted by shifting front lines, and surviving examples from this year show considerable variation in paper quality and ink consistency. The Bank of Pei Hai was absorbed into the People's Bank of China at its founding in 1948.
The Bank of Pei Hai was the currency authority of the Shandong-Jiasu Border Region, one of several Communist-administered areas operating their own financial systems during the later years of the Second Sino-Japanese War. Notes from this institution circulated alongside — and frequently in competition with — Japanese Military Yen and the puppet regime's Federal Reserve Bank issues, all three competing for legitimacy in the same contested territory.
1945 production for this issuer was disrupted by shifting front lines, and surviving examples from this year show considerable variation in paper quality and ink consistency. The Bank of Pei Hai was absorbed into the People's Bank of China at its founding in 1948.