1000 Yuan Central Bank of China

By 1945, the Central Bank of China was printing notes at a pace driven entirely by wartime inflation rather than monetary demand. The 1,000 Yuan denomination, unthinkable before the war, had become functionally mid-range by the time of issue — a measure of how completely the currency had collapsed in real purchasing power during the Sino-Japanese War years.

The Central Bank's own printing works had been relocated inland following the fall of Nanjing, and production quality across the 1945 issues reflects the constraints of that displacement. Paper consistency and ink registration on P#292 specimens vary noticeably across the run.