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Yuan dynasty banknote (2 guàn) with its printing plate (1287). Jiaochao (simplified Chinese: 交钞; traditional Chinese: 交鈔; pinyin: jiāochāo) is a Chinese word for banknote first used for the currency of the Jurchen-led Jin dynasty and later by the Mongol-led Yuan dynasty of China.
A Yuan dynasty government note and its matrix. The Mongolian dynasty used 'Phags-pa script, Tibetan originated writing, beside hanzi at this time.. A cash seal (simplified Chinese: 宝钞印; traditional Chinese: 寳鈔印; pinyin: Baochao Yin; "Baochao" means "valuable money", "Yin" means "seal") is a type of seal used as an anti-counterfeiting measure on paper money.
"Silver Dragon" yuan coin, 1904. 5-yuan note from a private bank, 1906. 5-yuan note of the Republic of China (1941) Taiwanese note for 10,000 yuan (1949) The yuan (/ j uː ˈ ɑː n,-æ n / yoo-A(H)N; sign: ¥; Chinese: 圓/元; pinyin: yuán; ⓘ) is the base unit of a number of former and present-day currencies throughout China.
The Chinese National Currency (CNC), [1] often transliterated as fapi [2] or fabi [a] [3] or translated as Legal Tender Note, [4] was the currency of China between 1935 and 1948. [4] [3] Introduced in the 1935 currency reform, the currency was initially issued by the Central Bank, the Bank of China, the Bank of Communications and later the Farmer's Bank of China.
A 5-yuan CNC banknote in 1936. In 1905, the Imperial Chinese government founded the Hubu Bank, granting it the authority to issue banknotes.At the time, Chinese leaders, whether conservative or revolutionary, believed that increasing the issuance of banknotes would allow them to outspend their revenues.
The notes issued were in five denominations, one hundred, ten, five and one yuan and five jiao (one-half yuan), and typically depicted Qing dynasty rulers of China on the obverse. To keep up with the inflationary pressures typically experienced by Japanese-controlled areas towards the end of World War II, a 1,000 yuan note was issued in 1944.
The cash or wén was retained in this system as 1 ⁄ 1000 yuan. Traditional style, cast 1 wén coins continued to be produced until the end of the Chinese Empire in 1911. The last coins denominated in cash were struck in the early years of the Republic of China in 1924.
A banknote of 10 yuan issued by the Central Bank of China in the year 1937. The role of non-government banks greatly decreased as the era of China's Nationalist government continued. [25]: 27–28 As inflation grew, only government banks could attract deposits. [25]: 27 By 1945, only 2% of deposits were held by private banks. [25]: 27–28