Obviously this badge was designed after the order of Striped Tiger.
Because of the positioning of the yin-yang symbol it looks like a Shinminkai award https://asiamedals.info/threads/new-peoples-society-of-the-republic-of-china-shinminkai-badges.26468/ but since New People's Society of the...
1937creatinganewshanghaiafter thewarmedal1937年戰後創造新上海紀念章
dadao government badge
dadao government medal
dadao municipal government of shanghaimedal
great way municipal government of shanghai badge
great way municipal government of shanghaimedal
japanese puppet state badge
japanese puppet state medal
戰後創造新上海紀念章