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The Mercantile Bank of India (MBI), the successor organization of the Chartered Mercantile Bank of India, London and China (B6101), obtained permission to issue notes at its Hong Kong branch in 1911, and began issuing notes the following year. It began issuing notes in Shanghai dated from 1916. It remained active in China until shut down by the Communist Party, along with all other remaining European banks, in 1950.

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