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5 Chiao / 50 Cents Kiang Hwai Bank of China
| Issuer | Kiang Hwai Bank of China (江淮银行) |
|---|---|
| Year | 1941 |
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| Composition | Paper |
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|---|---|
| Obverse lettering | 江淮銀行 伍角 每拾角換付國幣壹圓 中華民國三十年 |
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| Reverse lettering | 50 FIFTY CENTS |
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| Comments |
The Kiang Hwai Bank of China was a Japanese puppet institution established to serve occupied territories in the Jiangsu-Anhui border region during the Second Sino-Japanese War. Notes issued under its authority were instruments of wartime economic control — designed to displace Nationalist currency and integrate occupied areas into Japan's broader yen bloc framework.
The 1941 date places this squarely in the period of consolidated Japanese occupation, after the initial military push had settled into administrative entrenchment. Puppet bank notes from this region were frequently refused by local populations who preferred hoarding Chungking-issued fabi, making genuine circulation examples genuinely uncommon.