50 000 Yuan Tung Pei Bank of China

The Tung Pei Bank of China — the Northeast Bank — was the financial arm of the Chinese Communist Party's operations in Manchuria, established in 1945 after Soviet forces expelled the Japanese. By 1948, hyperinflation in Nationalist-controlled zones had driven denominations to absurd heights, and the Communists were printing high-value notes partly to compete with and undermine KMT currency credibility in the contested northeast.

This 50,000 Yuan issue appeared in the final year before the People's Bank of China absorbed all such regional institutions. The Tung Pei Bank was formally dissolved in late 1948 as Communist monetary consolidation replaced the patchwork of regional revolutionary banks with a unified currency — the Renminbi.