7 Chiao 5 Fen / 75 Cents Guangxua Shangdian

Guangxua Shangdian was a state-run cooperative store operating under the Chinese Communist Party's Border Region government in Yan'an. These notes were issued as trade scrip — essentially internal currency for transactions within the cooperative network — at a time when the Shensi-Kansu-Ninghsia Border Area was running a largely self-sufficient wartime economy under Nationalist blockade. The 1940 issue came during a period of acute shortage, when the Border Region was printing its own competing instruments across multiple issuing bodies simultaneously.

The fractional denomination is a practical relic of that scarcity: small-denomination scrip filled gaps that metal coinage could not.