The Functions of the People’s Bank of China
The Functions of The People’s Bank of China
The People’s Bank of China (PBC) is the central bank of China. With the improvement of the socialist market economic system, the PBC, as a central bank, plays an important role in China's macroeconomic management. The head office of the PBC is located in Beijing, the capital of China, and consists of 18 functional departments (bureaus). Under the guidance of the State Council, the PBC formulates and implements monetary policy, prevents and resolves financial risks, and safeguards financial stability. PBC has a Shanghai Head Office. Its major responsibilities include part of the central bank operational functions and some of the administrative functions.
PBC’s major functions (Posted on PBC Website)
(1) Drafting and enforcing relevant laws, rules and regulations that are related to fulfilling its functions;
(2) Formulating and implementing monetary policy in accordance with law;
(3) Issuing the Renminbi (Chinese Currency, RMB) and administering its circulation;
(4) Regulating financial markets, including the inter-bank lending market, the inter-bank bond market, foreign exchange market and gold market;
(5) Preventing and mitigating systemic financial risks to safeguard financial stability;
(6) Maintaining the Renminbi exchange rate at adaptive and equilibrium level; Holding and managing the state foreign exchange and gold reserves;
(7) Managing the State treasury as fiscal agent;
(8) Making payment and settlement rules in collaboration with relevant departments and ensuring normal operation of the payment and settlement systems;
(9) Providing guidance to anti-money laundering work in the financial sector and monitoring money-laundering related suspicious fund movement;
(10) Developing statistics system for the financial industry and responsible for the consolidation of financial statistics as well as the conduct of economic analysis and forecast
(11) Administering credit reporting industry in
The People’s Bank of China (PBC) is the central bank of China. With the improvement of the socialist market economic system, the PBC, as a central bank, plays an important role in China's macroeconomic management. The head office of the PBC is located in Beijing, the capital of China, and consists of 18 functional departments (bureaus). Under the guidance of the State Council, the PBC formulates and implements monetary policy, prevents and resolves financial risks, and safeguards financial stability. PBC has a Shanghai Head Office. Its major responsibilities include part of the central bank operational functions and some of the administrative functions.
PBC’s major functions (Posted on PBC Website)
(1) Drafting and enforcing relevant laws, rules and regulations that are related to fulfilling its functions;
(2) Formulating and implementing monetary policy in accordance with law;
(3) Issuing the Renminbi (Chinese Currency, RMB) and administering its circulation;
(4) Regulating financial markets, including the inter-bank lending market, the inter-bank bond market, foreign exchange market and gold market;
(5) Preventing and mitigating systemic financial risks to safeguard financial stability;
(6) Maintaining the Renminbi exchange rate at adaptive and equilibrium level; Holding and managing the state foreign exchange and gold reserves;
(7) Managing the State treasury as fiscal agent;
(8) Making payment and settlement rules in collaboration with relevant departments and ensuring normal operation of the payment and settlement systems;
(9) Providing guidance to anti-money laundering work in the financial sector and monitoring money-laundering related suspicious fund movement;
(10) Developing statistics system for the financial industry and responsible for the consolidation of financial statistics as well as the conduct of economic analysis and forecast
(11) Administering credit reporting industry in