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50000 Yuan
| Issuer | People's Bank of China |
|---|---|
| Year | 1950 |
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| Value | Log in to see details |
| Currency | First Rénmínbì (1949-1955) |
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| Obverse description | A large vignette to the left portrays a combine harvester at work across an open agricultural field, rendered in a detailed intaglio-style engraving. To the right, a lobed guilloche panel bears the denomination in Chinese characters (伍萬圓). The bank name in traditional characters runs across the top, with the date 一九五〇年 at the bottom centre, and corner ornaments repeat the denomination 伍萬 on each side. |
|---|---|
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| Reverse lettering | 中國人民銀行 伍萬 50000 1950 |
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| Comments |
The first series of Renminbi, of which this is among the highest denominations, was introduced beginning in December 1948 as Communist forces consolidated control across the mainland. Fifty thousand yuan was a direct consequence of the catastrophic hyperinflation inherited from the Nationalist government's currency collapse — the new People's Bank needed denominations at this level simply to conduct basic commerce at the point of Liberation.
The entire first series was withdrawn and replaced in 1955 when the second series Renminbi was introduced at a conversion rate of 10,000 old yuan to 1 new fen, effectively making this note worth one-fifth of a new yuan. First series notes were not legal tender after May 1955.