The Bank of Shansi, Chahar and Hopei was established in 1937 under Japanese occupation authorities to provide a monetary instrument for the Provisional Government of the Republic of China — a collaborationist administration installed in Peiping following the Japanese seizure of northern China. Its notes were designed to displace Nationalist-issued currency and the old Hopei Provincial Bank issues that had circulated in the region.
The copper-denomination notes of 1939 were aimed specifically at small retail transactions, filling the fractional gap left by the near-disappearance of actual copper coinage from circulation after years of wartime metal hoarding and requisitioning.
The Bank of Shansi, Chahar and Hopei was established in 1937 under Japanese occupation authorities to provide a monetary instrument for the Provisional Government of the Republic of China — a collaborationist administration installed in Peiping following the Japanese seizure of northern China. Its notes were designed to displace Nationalist-issued currency and the old Hopei Provincial Bank issues that had circulated in the region.
The copper-denomination notes of 1939 were aimed specifically at small retail transactions, filling the fractional gap left by the near-disappearance of actual copper coinage from circulation after years of wartime metal hoarding and requisitioning.