China, Reformed Government of the Republic 10 Fen 1940
3.03g. UNC/UNC.
A beautiful and lustrous specimen. Hua Hsing Commercial Bank. Year 29 of Republic.
KM Y 522; JNDA 23-2.
This Japanese puppet state was established in Eastern China on 28 March 1938, and was assigned control of the provinces of Jiangsu, Zhejiang and Anhui as well as Nanjing and Shanghai. Its activities were overseen by advisors provided by the Japanese China Expeditionary Army. The Reformed Government was, along with the Provisional Government, merged into Nanjing-based Reorganized national government on 30 March 1940.
