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100 Yuan

Issuer Federal Reserve Bank of China
Year 1943
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Reference(s) P#J77
Obverse description Vignette of Huang Ti (the Yellow Emperor) in imperial armour at left, with a multi-storey Chinese pavilion set against a mountainside at right. The bank title in Chinese characters runs across the top of the note, with the denomination in large Chinese characters centred in the field; two red seal impressions appear below the denomination. Floral rosette cornerpieces carry the numeral 100, and a repeating denomination underprint borders the design.
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Reverse description The reverse is dominated by a large central oval guilloche medallion bearing the numeral denomination 100 in bold characters, encircled by an elaborate scalloped border of interlocking guilloche lacework. The Chinese characters for one hundred yuan (壹百圓) appear in vertical panels to the left and right within the guilloche surround, and the bank title in Chinese characters is inscribed along the upper border. The legend "100 YUAN" is set in block lettering at the base of the central medallion.
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Comments

The Federal Reserve Bank of China was a Japanese-sponsored institution established in 1938 to manage currency in the occupied northern Chinese territories. Its notes circulated alongside — and were deliberately designed to displace — the Nationalist fabi, part of a broader Japanese strategy to destabilize Chiang Kai-shek's monetary system by flooding occupied zones with competing paper.

By 1943, wartime inflation was accelerating sharply across all Chinese currency zones, and higher denominations like this 100 Yuan were becoming increasingly necessary for routine transactions. The series was printed in Japan.

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