The Republic of China, commonly called Taiwan, is a country made up of a group of islands off the coast of the Peoples Republic of China. the capital city of Taiwan is Taipei. After world war II, the Chinese civil war restarted between the Chinese nationalist, Kuomintang, led by Chiang Kai-shek and the communist movement led by Mao Zedong and by 1949 the nationalists had been beaten and Mao had set up the Peoples Republic of China. Chiang Kai-shek evacuated the Kuomintang to Taiwan. Martial law was declared and kept in place until 1987. This time was known as "The White Terror" and many people were treated brutally for being perceived as anti-Kuomintang or pro- communist. Although liberalised in the 1990's, there is still controversy over who has the right to both the name and territory of china ( republic of china or the peoples republic of china) Taiwan is sometimes referred to as "Chinese Taipei" and was also previously known as "Formosa". Taiwan is not formally recognised by the UN but 22 UN states recognise it.
Monetary unit: 1 Yuan = 10 Chiao = 10 Fen
The polymer note above is the 1999 commemorative issue 50 Yuan note. it has a picture of two previous notes - the 1983, 100 Yuan note and the 1967, 50 Yuan note - on the front and the central bank building on the reverse.
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