100 Yuan Tung Pei Bank of China, green

The Tung Pei Bank of China was established in 1945 to serve the Manchurian provinces after Soviet and Chinese Communist forces moved into the region following Japan's defeat. It operated under direct CCP sponsorship, making its notes among the earliest paper currency issued by Communist-controlled financial institutions in China — predating the People's Bank of China by over two years. The 1947 date places this note squarely in the civil war period, when Manchuria was a primary theater of conflict between Nationalist and Communist forces.

Inflation in the northeast was severe enough that denominations climbed rapidly through the late 1940s, which is why 100 Yuan notes from this issuer are not particularly high-value within the series itself.