The first series of

Renminbi The renminbi ( ; currency symbol, symbol: Yen and yuan sign, ¥; ISO 4217, ISO code: CNY; abbreviation: RMB), also known as the Chinese yuan, is the official currency of the China, People's Republic of China. The renminbi is issued by the Peop ...

banknotes was introduced during the

Chinese Civil War The Chinese Civil War was fought between the Kuomintang-led Nationalist government, government of the Republic of China (1912–1949), Republic of China and the forces of the Chinese Communist Party (CCP). Armed conflict continued intermitt ...

by the newly founded

People's Bank of China The People's Bank of China (officially PBC and unofficially PBOC) is the central bank of the People's Republic of China. It is responsible for carrying out monetary policy as determined by the ''PRC People's Bank Law'' and the ''PRC Commercia ...

on December 1, 1948, ten months before the founding of the

People's Republic of China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

itself. It was issued to unify and replace the various currencies of the communist-held territories as well as the currency of the Nationalist government. This series is also called "Old Currency", which 10,000 yuan is equal to 1 yuan of the 2nd series and later (called "New Currency"). Due to the turbulent political situation at the time, the first series is rather chaotic, with many versions issued for each denomination. The banknotes show a mixture of agricultural and industrial scenes, modes of transportation, and famous sites. The notes were issued in 12 denominations: ¥1, ¥5, ¥10, ¥20, ¥50, ¥100, ¥200, ¥500, ¥1,000, ¥5,000, ¥10,000 and ¥50,000, with a total of 62 designs. They were officially withdrawn on various dates between April 1, 1955, and May 10, 1955. Some of these notes have words "Republic of China" on them to show the issuance year in the Republic of China Era. Though the PRC adopted the

Common Era Common Era (CE) and Before the Common Era (BCE) are year notations for the Gregorian calendar (and its predecessor, the Julian calendar), the world's most widely used calendar era. Common Era and Before the Common Era are alternatives to the ...

to replace the ROC Era in 1949 and have been avoiding using "Republic of China" in any possible circumstance, these notes were issued and used until 1955, when a

revaluation Revaluation is a change in a price of a good or product, or especially of a currency, in which case it is specifically an official rise of the value of the currency in relation to a foreign currency in a fixed exchange rate system. In contrast, ...

of Reminbi took place.

List

¥1

¥5

¥10

¥20

¥50

¥100

¥200

¥500

¥1,000

¥5,000

¥10,000

¥50,000

References

{{DEFAULTSORT:Renminbi 1 Banknotes of China Currencies introduced in 1948 Renminbi Chinese numismatics