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Bank notes

YearYuan billion
19423.48
194319.15
1944139.69
19452,692.30
ˡʾ
YearYuan billion
19371.5
194315.0
1944190.0
Japan and China fought for 15 years till the end of the Pacific war. Chinese army and Japan fought in Shanghai in 1937. That was the beginning of money war. The both armies issued a lot of notes to get materials for requisition. The table shows hyper inflation in China. The increase ratio of was 1,900% from 1944 to 1945. Nanjing government issued of the Central Reserve Bank of China. Japan could not ignore power of ˡʾ. So Nanjing government was to recover military notes of Japan on Apr 1943. was paper in the end of the Pacific War. The other yuan note also was published much and hyper inflated. After all communist government could have Canton people circulate her yuan.
Gunzo, p106-108, No72
Houhei
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Chinese yuan
Japanese military yen

Yen Yen
YuanNanjing yuan

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