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| 正面描述 | Orange on multicolor underprint. A vignette of a classical Chinese temple gate appears at left, with a portrait of the Song dynasty general Yüeh Fei in traditional court attire at right. The bank title in Chinese characters (中國聯合準備銀行) is inscribed across the top, with the denomination 伍圓 in large characters at centre, flanked by two red official seals and serial numbers printed in blue. |
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| 背面铭文 | 中國聯合準備銀行 伍圓 FIVE YUAN 5 華北政務委員會印刷局製 |
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The Federal Reserve Bank of China was a Japanese-controlled institution operating in occupied North China, established in 1938 as part of the broader monetary apparatus imposed on the region. Its notes circulated alongside — and were designed to gradually displace — the Nationalist fabi currency, with exchange rates manipulated to drain silver and hard currency from the occupied territories.
The Hua Pei Political Affairs Committee Printing Bureau was itself a collaborationist body based in occupied Beiping. Print quality across this series is notoriously inconsistent, and paper stock varied as wartime supply constraints tightened through 1941 and into 1942.