China Hyperinflation Banknotes


Bank of Chinan Emergency Bearer Check
10,000,000 Yuan, 1943

10,000,000 yuan 1943 Front
10,000,000 yuan 1943 Back

Enlarge: Front10,000,000 yuan 1943 front
 & Back10,000,000 yuan 1943 back


Usage Instruction on Back

usage instruction

This is an interesting Bank of Chi Nan 10 Million Yuan emergency circulating cashiers (bearer) check issued in the Communist controlled area of Chi Nan prior to the establishment of the Peoples Republic of China in 1949.

The note was valid for only one year after issuance. Apparently very rare, I haven't come across another one. It is not listed in the Standard Catalog of World Paper Money.

Graded Very Good Circulated condition. It has a 13mm (1/2 inch) horizontal tear on the left edge, and some light dirt smears.

Front Bottom: Printed on the 32nd Year of the Republic of China (1943);
Front Right: Issued at the beginning of January on the 34th Year of the Republic of China (1945);
Front Center: Expired at the end of December on the 34th Year of the Republic of China (1945).

Back Left: Spaces for dates, signatures and chops;
Back Right: Usage Instruction-
1. For ease of commercial transactions, the bearer check is legal tender within Chi Nan area.
2. The bearer check is redeemable at all branches of the bank within Chi Nan area.
3. To prevent counterfeiting, the check must be dated and signed by the transferee and a guarantor in the spaces provided.
4. Void if damaged that its authenticity or denomination cannot be determined.
5. The bearer check must be presented for exchange.
6. Void after the expiration date.


Sinkiang Provincial Bank
60,000,000 Yuan = 100 Gold Yuan, 1949

60,000,000 gold yuan 1949 front
60,000,000 gold yuan 1949 back

Enlarge: Front60,000,000 yuan 1949 front
 & Back60,000,000 yuan 1949 back

Front: Sun Yat-sen (1866-1925), revolutionary leader and President of China 1912-1913

Back: Bank building


1,000,000 Gold Yuan, 1949
The Central Bank of China

1,000,000 gold yuan 1949 front
1,000,000 gold yuan 1949 back

Enlarge: Front1,000,000 gold yuan 1949 front
 & Back1,000,000 gold yuan 1949 back

Front Right: Chiang Kai-Shek (1887-1975), Chinese military and political leader

Back: Bridge


5,000,000 Gold Yuan, 1949
The Central Bank of China

5,000,000 gold yuan 1949 front 5,000,000 gold yuan 1949 back

Enlarge: Front5,000,000 gold yuan 1949 front
 & Back5,000,000 gold yuan 1949 back

Back to Hyperinflation Banknotes

China went through a period of hyperinflation during the last years of civil war 1948-49. In 1947, the highest denomination was 50,000 Yuan. By mid-1948, the highest denomination was 180,000,000 Yuan. The 1948 currency reform exchanged 1 Gold Yuan for 3,000,000 Yuan. Within a year, the highest denomination reached 10,000,000 Gold Yuan.

The Sinkiang Provincial Bank printed a series of high denomination Yuan notes just before the currency reform. They were circulated in 1949 at 600,000 Yuan face value equivalent to 1 Gold Yuan. The highest denomination in this series is 6,000,000,000 Yuan = 10,000 Gold Yuan.




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