5 Yuan Tung Pei Bank of China

The Tung Pei Bank of China — literally the Northeast Bank of China — was established by the Chinese Communist Party in Manchuria following the Soviet Red Army's rapid defeat of Japanese forces in August 1945. This note was issued almost immediately after that transition, before the Nationalist government could assert control over the region, making it one of the earliest instruments of Communist monetary administration in the northeast.

The civil war context matters here: these notes circulated in a contested zone where Nationalist and Communist currencies competed directly, and the CCP worked hard to enforce acceptance of their paper over KMT issues. P#S3727 falls within a series that saw relatively short active use before the Northeast Bank was absorbed into the People's Bank of China system in 1948.