200 Yuan Farmer's Bank of Chung-Chou

The Farmer's Bank of Chung-Chou was a regional bank operating under Nationalist auspices in Henan province, and by 1948 the currency it issued was racing against hyperinflation so severe that high-denomination notes became obsolete within weeks of printing. A 200 Yuan face value, substantial at the time of design, would have been reduced to negligible purchasing power almost immediately upon release — the Nationalist monetary system was collapsing faster than printing schedules could accommodate.

Henan changed hands repeatedly during the civil war's final phase, and many Chung-Chou notes never completed normal circulation cycles before the province fell to Communist forces in late 1948.