Catalog & market information for bank notes issued by Hua Hsing Commercial Bank

The Reformed Government of the Republic of China was established by the Japanese Central Expeditionary Army on 28 March 1938 in Nanjing. A little over a year later, on 1 May 1939, the Hua Hsing Commercial Bank (HHC) opened in Shanghai and began issuing banknotes, backdated to 1938. It did so until 1940, in which year the Reformed Government of the Republic of China was replaced by the Reorganized Government of the Republic of China, and the Hua Hsing Commercial Bank superceded by the Central Reserve Bank of China (see B5601).