B3340, China Reconstruction Bond Loan, 10,000 Dollars (Highest Value), 1944

B3340, China Reconstruction Bond Loan, 10,000 Dollars (Highest Value), 1944.

Fine condition, please refer the picture, circulated.

Issued in 1944 by combined four banks of China. The face value is 10,000 China Dollars. 10,000 Dollars is the highest face value of these bonds.

It is a kind of government bond, but it can be circulated in the market as legal banknotes. It is the emergency notes issued during the war, to solve the fiscal problems, without leading to inflation.

The interest rate is different from different duration.

Duration half year: 6% annum.
Duration 1 year: 7.1% annum.
Duration 2 years: 7.95% annum.
Duration 3 years: 9.98% annum.