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100 Yuan Central Bank of China

Issuer Central Bank of China
Year 1945
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Printer Central Engraving and Printing Plant, Shanghai
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Obverse lettering 中央銀行
東北九省流通券
壹佰圓
中華民國三十四年印
中央製印廠上海廠
(Translation: Central Bank of China / Circulation notes for the Nine Northeastern Provinces / One Hundred Yuan / Printed in the 34th year of the Republic of China / Central Engraving and Printing Plant, Shanghai Factory)
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Reverse lettering 壹佰圓
100
副局長 田廕道
(Translation: One Hundred Yuan / 100 / Deputy Director-General Tian Yindao)
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By 1945, the Central Bank of China was printing money faster than it could manage the consequences. This 100 Yuan note entered circulation during the final year of the Second Sino-Japanese War, when wartime expenditure and Japanese military occupation of key economic zones had already sent inflation into a steep upward spiral. The Central Engraving and Printing Plant in Shanghai — which had operated under Japanese-controlled conditions for much of the war — resumed Nationalist production as the military situation shifted.

The note belongs to a series that would be entirely overwhelmed by hyperinflation within three years. By 1948, 100 Yuan was functionally worthless, and the Gold Yuan reform wiped the entire fabi currency system from circulation.

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