50 Yuan

By mid-1948, the Central Bank of China was printing currency at a pace that made denomination planning almost meaningless. The 50 Yuan note arrived just as the Gold Yuan reform was being prepared — the currency it supported was already collapsing under hyperinflation so severe that monthly price increases were reaching triple digits. A 50 Yuan note had negligible purchasing power almost from the moment of issue.

The Chung Hwa Book Company, better known as a major Shanghai publisher and printer, handled significant portions of Republican-era note production. Their involvement reflects how far the government had to spread printing contracts to keep up with volume demands in the final years of Nationalist monetary control.