Xinjiang Provincial Bank was established in July 1930, 1, and allocated military and political funds in various places on behalf of the provincial treasury, with branches covering nine places including Yili, Tacheng, Ashan and Kashgar.

Since September 1944, there has been unprecedented hyperinflation in Xinjiang.

In order to maintain the huge military expenditure, the authorities issued a large number of paper money.

194865438+February, the provincial * * * reorganized Xinjiang Commercial Bank to issue new banknotes, and soon began to issue banknotes of 30 million yuan, 60 million yuan, 600 million yuan and 3 billion yuan. In May, 1949 even issued banknotes as high as 6 billion yuan.

Within 20 days, 6 billion won banknotes were sent out of the warehouse 14 times, totaling 4.8 million pieces with a total amount of 288 million won.

At the bottom of this face value is written "Ten thousand yuan gold certificate", which is the only paper money in China with two different monetary units and amounts juxtaposed on the same paper money.

The purchasing power of this paper currency with the largest denomination in China was extremely low, and only 70 grains of rice could be bought in the Shanghai market at that time.