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500 Yuan Bank of Shansi, Chahar, & Hopei
| Issuer | Bank of Shansi, Chahar & Hopei |
|---|---|
| Year | 1946 |
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| Composition | Paper |
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|---|---|
| Obverse lettering | 晉察冀邊區銀行 伍佰圓 中華民國三十五年 500 |
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| Reverse lettering | BANK OF SHANSI CHAHAR & HOPEI 500 FIVE HUNDRED YUAN 1946 |
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The Bank of Shansi, Chahar & Hopei — often rendered as Jinchaji Bank in Chinese sources — was a Communist-administered regional bank established in the border region of the same name during the Second Sino-Japanese War. By 1946, the war with Japan was over but the civil war between the Nationalists and the CCP was accelerating, and this 500 Yuan note was issued into an economy already experiencing serious inflationary pressure from competing currencies circulating in the same territory.
Regional Communist banks issued at high denominations like this one partly to displace Nationalist fiat and KMT-linked bank notes from local markets — a deliberate monetary strategy as much as a practical necessity. The Jinchaji region was one of the more administratively coherent of the wartime base areas, and its bank outlasted many similar institutions, eventually merging into the People's Bank of China in 1948.