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500 Yuan Bank of Chang Chung
| Issuer | Bank of Chang Chung |
|---|---|
| Year | 1948 |
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| Shape | Rectangular |
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| Obverse description | Blue on orange underprint. An oval portrait vignette of Mao Tse-tung is positioned at left, set within ornate scrollwork framing. The bank title 長城銀行 (Bank of Chang Chung) appears at upper centre in Chinese characters, with the denomination 伍佰圓 in a central cartouche flanked by two seal impressions; the regional designation 冀察熱遼 is inscribed at right, and the date inscription 中華民國三十七年印 appears at lower centre. |
|---|---|
| Obverse lettering | 長城銀行 伍佰圓 流通券 冀察熱遼 中華民國三十七年印 NO. EP |
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| Comments |
The Bank of Chang Chung was a regional bank operating in Changchun, the capital of the Japanese-established state of Manchukuo, and its notes circulated during one of the most turbulent transitions in modern Chinese history. By 1948, Changchun was under siege — the People's Liberation Army encircled the city from March through October of that year in one of the longest and most devastating urban sieges of the civil war. Hyperinflationary pressure was severe, which explains the high denomination.
The city fell to Communist forces in October 1948. Notes from this bank had an exceptionally short viable circulation window.