People's Bank of China
As the Communist Party of China took control of ever larger territories in the latter part of the Chinese Civil War, its People's Bank of China began in 1948 to issue a unified currency for use in Communist-controlled territories. Also denominated in "yuan", this currency was identified by different names, including "People's Bank of China banknotes" (; from November 1948), "New Currency" (; from December 1948), "People's Bank of China notes" (; from January 1949), "People's Notes" (人民券, as an abbreviation of the last name), and finally "People's Currency", or "renminbi", from June 1949.