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500 Yuan Maogungs Liutungkyan

Issuer Northwest China Liberated Area - Maogungs Liutungkyan (Trade Bureau)
Year 1945
Type Local banknote
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Reverse description Vertical format in matching orange-red print. Upper section carries the numeral 500 within an oval cartouche flanked by repeated denomination panels. The body of the note is occupied by a lengthy vertical Chinese text block setting out the terms and authority of issue, with decorative guilloche borders on all sides.
Reverse lettering 500
此奉业经庆甘平边区政府批准行业师若全边境内所有纳税
交易遵照一律通用
此券适用甘平边区一银行兑换陕甘边
贸易流通业公司发行伍百元兑现限甘边
南北两省规定西北上庐先华福本公司加入兑学现银行公司
旨其所属西北上庐先华福公司加入联银行总分支行
办得其公司部汪广贸卖所由自余行总分支
及其所代理
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Comments

The Northwest China Liberated Areas produced a bewildering number of regional trade bureau notes during the final years of the civil conflict, each tied to specific administrative zones rather than a unified monetary authority. Maogungs Liutungkyan — roughly translatable as a trading and circulation bureau — was one of the local organs empowered to issue scrip to facilitate commerce within its jurisdiction, insulating CCP-controlled territory from Nationalist currency and inflation.

1945 was the pivot year: Japan's surrender in August collapsed existing trade networks overnight, forcing rapid monetary improvisation across the northwest. Notes from this bureau are genuinely uncommon in any grade; regional scrip of this type was often withdrawn and destroyed once the People's Bank consolidation began after 1948.

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