2 Chiao Hunan-Hupeh-Kiangsi Worker's and Farmer's Bank

The Hunan-Hupeh-Kiangsi Soviet Area was one of the more tenacious of the regional Communist base areas, surviving Kuomintang encirclement campaigns from 1930 onward. Notes issued here circulated within a tightly controlled local economy centered on the Xianggan border region — not through any formal banking infrastructure but through Soviet-administered trade networks and state-run cooperatives that enforced acceptance at par.

Survival rate is low. These notes were produced under wartime conditions with no expectation of long-term preservation, and the base area was eventually overrun in 1934-35. Most surviving examples come from hoards or were preserved by collectors operating in Shanghai in the 1930s rather than through normal attrition.