Catalog & market information for bank notes issued by Central Bank of China
The Central Bank of China (CEN) was authorized in 1923 by the administration of Sun Yat-sen, and officially opened in Guangzhou in 1924 with Song Ziwen as governor. Initial issues were regional, circulating out of branches located in the south of the country. Following the success of the Northern Expedition, in October 1928 the role of the central bank of the Republic of China, then held by the Bank of China (B1001), was taken over by what was officially considered to be a new financial entity, coincidentally also named the Central Bank of China, and headquartered in Nanjing. The older Guangzhou-based Central Bank of China continued to issue notes for some years, the different signature combinations for B3024 - B3030 are relics of this situation. In this catalog, we consider the two financial entities named the Central Bank of China to be the same for the purposes of numbering. In November 1928, the Central Bank of China’s headquarters shifted again, this time to Shanghai. The Central Bank of China issued more types of banknote than any issuer in numismatic history. In the first 20 years or so of its existence, the bank emitted notes at an average pace, but after 1942, when it became the sole national note-issuing bank in China, and war, foreign occupation, and communist uprisings conspired to destroy the economy and produce massive inflation, the bank emitted a huge variety of different banknotes at a furious pace: some 224 different types between 1941 and 1949, the vast majority of which were singularly uninspired in the their design, merely featuring a portrait of Sun Yat-sen or Chiang Kai-shek. After Mao Zedong proclaimed the People’s Republic of China in October 1949, the defeated Kuomintang fled to Taiwan in December 1949, taking the Central Bank of China with them. In 2000, the English name of the Central Bank of China was changed to the Central Bank of the Republic of China (Taiwan) and it was granted sole rights to banknote issuance in Taiwan. For later issues, see Taiwan (B501). For other Central Bank of China issues, see French Indo-China (B351) and Taiwan (B497). For more information, visit www.cbc.gov.tw.