50 Yuan

Chan Tung Cheng Bank was a small Guangdong-based private bank operating in the 1930s, a period when hundreds of minor Chinese regional banks issued their own notes in direct competition with the major government institutions. This 50 Yuan note — a high denomination for an institution of this scale — was printed by Lin Fa The Hongkong Printing Press, a Hong Kong commercial printer that served numerous southern Chinese banking clients who either lacked access to the major security printers or could not afford them.

Private bank issues from this period were vulnerable to runs and demonetization. Many collapsed entirely after 1935, when the Nationalist government's currency reform centralized note-issuing authority and rendered private bank paper worthless almost overnight.