Catalog
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| Issuer | People's Bank of China |
|---|---|
| Year | 1949 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | 行銀民人國中 圓佰貳 年八十三國民華中 (Translation: People's Bank of China Two Hundred Yuan Year 38 of the Chinese Republic) |
| Reverse description | Purple on multicolour underprint. The entire field is filled with intricate guilloché scrollwork and floral ornamentation, with the numeral 200 in large stylised figures at centre within a circular guilloché medallion and repeated in smaller form at left and right. The bank name 中國人民銀行 appears at top, with the Western year 1949 and denomination 200 along the lower margin. |
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| Comments |
The first series of Renminbi, issued by the newly established People's Bank of China beginning in late 1948 and continuing through 1949, was produced under chaotic wartime conditions as Communist forces consolidated control across the mainland. Printing was decentralized across multiple facilities — some formerly Nationalist, some operated in newly liberated zones — which accounts for the considerable variation in paper quality, ink density, and register precision found across notes of this series.
The 200 Yuan denomination was among the higher values required simply to keep pace with the inflationary damage the Civil War had already inflicted on the currency supply. By 1955, the entire first series was replaced at a conversion rate of 10,000 old Yuan to 1 new Renminbi.