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| 背面描述 | Printed entirely in green. The large numeral "100" is set within a bold central guilloche medallion, surrounded by intricate lathe-work patterns and geometric borders. The English legend "BANK OF PAI HAI" runs along the upper border, with the denomination numeral "100" repeated in each of the four corners and the year "1946" inscribed at the bottom centre. |
| 背面铭文 | BANK OF PAI HAI 100 1946 |
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The Bank of Pei Hai was established by the Communist Party's Shandong-based administration in 1938 and operated as the principal financial institution for the Liberated Areas of Shandong and Bohai. By 1946, the civil war against the Nationalists was intensifying, and the bank was issuing notes at rapidly increasing denominations to keep pace with wartime inflation — the 100 Yuan represented a significant jump from earlier low-denomination issues in the series.
Pei Hai notes circulated in areas under active military contest, and survival rates reflect that. Notes that passed through guerrilla-controlled territory rarely received careful handling.