5 Yuan Bank of Communications

The Bank of Communications was established in 1908 under the Qing dynasty primarily to manage railway and shipping finances, not as a general commercial bank — a distinction that shaped which government ministries had authority over its note issues during the early Republic years. By 1914, when this series was printed, the bank had become one of only two institutions (alongside the Bank of China) authorized to issue national currency under the new Republican government.

ABNC produced the plates in New York, and the quality shows — the intaglio work on this series is among the finer engraving seen on Chinese Republican-era notes. The bank suspended specie payments in 1916 under pressure from Yuan Shikai's government, which severely damaged public confidence and sent many of these notes into hoarding or rapid depreciation.