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500 Yuan Tung Pei Bank of China
| Issuer | Tung Pei Bank of China |
|---|---|
| Year | 1947 |
| Type | Log in to see details |
| Value | 500 Yuan |
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| Obverse description | Oval vignette at left with a bust portrait of Mao Zedong facing slightly right, set within a decorative border. The denomination 伍百圓 (500 Yuan) is printed in large Chinese characters at centre-right, with the bank name 東北銀行 appearing along the top margin. A serial number and prefix block appear in the upper corners, with the legend 流通券 (circulating note) inscribed vertically at left; the note is printed in red on plain paper with a light guilloche underprint. |
|---|---|
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| Reverse lettering | TUNG PEI BANK OF CHINA FIVE HUNDRED YUAN 500 1947 |
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| Comments |
The Tung Pei Bank of China was established in 1945 to serve the northeastern provinces — Manchuria — immediately after Soviet and then Chinese Communist forces displaced the Japanese-backed financial infrastructure that had dominated the region since 1932. This note was issued in 1947, during active civil war fighting in the northeast, when the Communists were consolidating control of Manchurian cities ahead of their eventual nationwide victory. The bank was explicitly a Communist-administered institution, not a Nationalist one, making this note part of a parallel monetary system running concurrently with the Nationalist fabi.
Hyperinflationary pressure in the region drove denominations upward rapidly through 1947–48.