Source: Bank of Communications, China, 5 Yuan, 1935
This is an example of a light and shade watermark. It consists of a duplication of the printed image of an oriental ship (i.e. a Chinese junk) which appears in the center of the banknote's face.
Additional Book Information
Bank of Communications, China, 5 Yuan, #B202304K, issued in 1935. These banknotes were printed in London, England by the Thomas De La Rue & Company, Ltd. The original banknote measures 3-1/8" x 5-13/16" (80mm x 150mm).