5000 Yuan

The Federal Reserve Bank of China was a Japanese-sponsored institution, established in 1938 to issue currency across Japanese-occupied northern China. By 1945, the bank was printing increasingly high denominations as inflation in the occupied territories accelerated sharply — the 5000 Yuan note being among the largest values the series reached before Japan's surrender collapsed the entire apparatus in August of that year.

Notes from this final wartime phase were rendered worthless almost immediately upon issue. Large quantities were never distributed, and redemption was neither organized nor guaranteed by any successor authority.