What is the People's Bank of China? People's Bank of China Review, Features

The People's Bank of China , the central bank of the People's Republic of China, is a macro-control department under the leadership of the State Council that formulates and implements monetary policy, maintains financial stability, and provides financial services.

About the People's Bank of China

• On December 1, 1948, the North China Bank, Beihai Bank and Northwest Farmers Bank were merged in Shijiazhuang, Hebei Province to form the People's Bank of China. In September 1983, the State Council decided that the People's Bank of China would exclusively exercise the functions of China's national central bank.

• The internal institutions of the People's Bank of China shall undertake the relevant work of the Financial Committee Office according to work needs and accept the overall coordination of the Financial Committee Office. The People's Bank of China implements the principles, policies, decisions and arrangements of the Party Central Committee on financial work, and adheres to and strengthens the centralized and unified leadership of the Party over financial work in the process of performing its duties.

The main responsibilities of the People's Bank of China

1. Formulate strategic plans for financial industry reform and development.

2. Responsible for comprehensive research and coordinating solutions to major issues in financial operations and promoting the coordinated and healthy development of the financial industry.

3. Participate in assessing the impact of major financial mergers and acquisitions on national financial security and put forward policy recommendations to promote the orderly opening up of the financial industry.

4. Draft relevant laws and administrative regulations, improve the operating rules of relevant financial institutions, issue orders and regulations related to the performance of duties, etc.