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50 Yuan
| Issuer | Central Bank of China |
|---|---|
| Year | 1945 |
| Type | Standard circulation banknote |
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|---|---|
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| Reverse description | The Six Harmonies Pagoda (Liuhe Ta) rising above the Qiantang River on the southern outskirts of Hangzhou, Zhejiang Province, rendered in a detailed intaglio vignette with the pagoda as the central architectural element against a lightly shaded sky and riverbank landscape. |
| Reverse lettering | THE CENTRAL BANK OF CHINA FIFTY YUAN 1945 |
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| Comments |
The Central Bank of China placed enormous orders with American Bank Note Company during the final years of the Second Sino-Japanese War, when domestic printing capacity was hopelessly disrupted and hyperinflationary pressure was already building. This 1945 issue arrived into an economy where the Nationalist government's money supply had expanded more than a hundredfold since 1937 — a 50 Yuan note that was already losing its practical purchasing power almost as quickly as it could be distributed.
The Pick 393 series is relatively common in surviving quantity, largely because ABNC production ran well ahead of actual demand by war's end. Many shipments reached China only after Japan's surrender in August 1945.