200 Yuan Maojgungs Liutungkyan

The Shan-Gan-Ning Border Area — straddling Shaanxi, Gansu, and Ningxia — operated as the Chinese Communist Party's administrative heartland from 1937 onward, and its financial institutions issued their own currency partly to resist Nationalist economic pressure. The Guomindang had been restricting the flow of Fabi into the region and engineering blockades designed to strangle the base economically. Local trade notes like this one from the Border Area Trading Company were a direct counter-measure, designed to keep commerce moving internally without dependence on Chongqing-controlled currency.

By 1944, the border area monetary system had matured considerably — this is a relatively late wartime issue, printed when the CCP's administrative infrastructure was far more organized than in the lean years of the early 1940s.