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| 正面描述 | Portrait of Chiang Kai-shek in military uniform at right, rendered in intaglio against a red guilloche underprint. The central vignette carries the denomination in Chinese characters, with the bank title 中央銀行 inscribed across the top. Corner numerals repeat the denomination value, and two red seal impressions appear at lower centre. |
|---|---|
| 正面铭文 | 中央銀行 貳拾圓 (Translation: Central Bank of China Twenty Yuan) |
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By mid-1948, hyperinflation had so thoroughly destroyed confidence in Chinese Nationalist currency that the Central Bank was printing notes whose face value became meaningless within days of issue. This 20 Yuan denomination was already an anachronism at release — the Gold Yuan reform of August 1948 would replace the entire Fabi series within weeks, at a conversion rate of three million old yuan to one Gold Yuan, itself destined to collapse within months.
The Central Engraving and Printing Works struggled to keep pace with demand during this period, and quality control across the late Fabi issues reflects that pressure.