10000 Yuan

The Bank of Taiwan's 1949 high-denomination issues were emergency responses to the catastrophic hyperinflation that had consumed mainland China and was now threatening Taiwan as the Nationalist government retreated there. The Central Engraving and Printing Plant — the KMT's own security printer — relocated to Taiwan in 1948-49, which is why production could continue locally rather than depend on foreign contractors.

The 10,000 Yuan denomination, enormous by prewar standards, was already insufficient by the time notes reached circulation. A currency reform later in 1949 introduced the New Taiwan Dollar at 40,000 old Yuan to one, effectively wiping out these notes' face value almost immediately after issue.