By 1947, the Central Bank of China was printing in denominations unthinkable just three years earlier — a direct consequence of the hyperinflation that had been accelerating since the Second Sino-Japanese War drained the Nationalist government's reserves. The 5000 Yuan note was itself obsolete almost upon issue; within eighteen months, the gold yuan reform of August 1948 would attempt to replace the entire fabi currency system, fixing the exchange rate at 3,000,000 old yuan to 1 gold yuan.
Ta Tung was one of several domestic printers pressed into service as demand for high-denomination notes outpaced what could be sourced abroad. The reform collapsed within a year.
By 1947, the Central Bank of China was printing in denominations unthinkable just three years earlier — a direct consequence of the hyperinflation that had been accelerating since the Second Sino-Japanese War drained the Nationalist government's reserves. The 5000 Yuan note was itself obsolete almost upon issue; within eighteen months, the gold yuan reform of August 1948 would attempt to replace the entire fabi currency system, fixing the exchange rate at 3,000,000 old yuan to 1 gold yuan.
Ta Tung was one of several domestic printers pressed into service as demand for high-denomination notes outpaced what could be sourced abroad. The reform collapsed within a year.