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| 正面描述 | 登录 以查看详情 |
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| 正面铭文 | 登录 以查看详情 |
| 背面描述 | The reverse is printed in olive-green and composed entirely of intricate guilloche lacework, with two large symmetrical rosette vignettes flanking a central oval cartouche containing the denomination 貳拾圓 in Chinese characters. The numeral 20 appears in each corner and at mid-left and mid-right within the guilloche border work. The bank name 中國人民銀行 arches across the top of the central cartouche, and the year 1949 is inscribed at the lower centre. |
| 背面铭文 | 行銀民人國中 圓拾貳 1949 (Translation: People's Bank of China Twenty Yuan) |
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This note belongs to the First Series Renminbi, issued by the People's Bank of China almost immediately after its establishment in December 1948 — the bank was barely weeks old when the first series began rolling out. Printing was decentralized across multiple facilities in Communist-controlled territory, which produced observable inconsistencies in ink saturation and paper quality across specimens of the same denomination. No single authoritative print run figure has been published.
The First Series was withdrawn and demonetized in 1955 when the Second Series Renminbi was introduced at a conversion rate of 10,000 old yuan to 1 new yuan — a ratio that tells you everything about the inflation the new government inherited from the Republic period.