The People's Bank of China (PBC) (Simplified Chinese: 中国人民银行; Traditional Chinese: 中國人民銀行; pinyin: Zhōngguó Rénmín Yínháng ) (not to be confused with the Bank of China or the Central Bank of China) is the central bank of the People's Republic of China with the power to control monetary policy and regulate financial institutions in mainland China. The current structure of the bank is modelled after the Federal Reserve System of the United States. Image File history File links Peoples Bank of China logo - fair use File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Simplified Chinese characters (Simplified Chinese: 简体字; Traditional Chinese: 簡體字; pinyin: jiǎntǐzì; also called 简化字/簡化字, jiǎnhuàzì) are one of two standard character sets of printed contemporary Chinese written language. ... Traditional Chinese characters are one of two standard character sets of printed contemporary Chinese written language. ... Hanyu Pinyin (Simplified Chinese: 汉语拼音; Traditional Chinese: 漢語拼音; Hanyu Pinyin: , lit. ... Bank of China Limited (Chinese: 中国银行; pinyin: ) (BOC) is one of the big four state-owned commercial banks of the Peoples Republic of China. ... The Central Bank of China (中央銀行) is the central bank of the Republic of China (on Taiwan). ... The highlighted area in the map is what is commonly known as mainland China. Mainland China (Simplified Chinese: 中国大陆; Traditional Chinese: 中國大陸; Pinyin: Zhōnggúo Dàlù, lit. ... The Federal Reserve System is headquartered in the Eccles Building on Constitution Avenue in Washington, DC. The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central bank of the United States. ...

Among central banks, the PBC has a unique history. The bank was established in 1948 shortly before the establishment of the People's Republic of China. After the communist victory, all banks were nationalized and incorporated into the PBC. The headquarters were first located in Shijiazhuang, Hebei, then moved to Beijing in 1949. Between 1949 and 1978 the PBC was the only bank in the People's Republic of China and was responsible for both central banking and commercial banking operations. 1948 (MCMXLVIII) was a leap year starting on Thursday (the link is to a full 1948 calendar). ... Communism - Wikipedia /**/ @import /w/skins-1. ... Nationalization is the act of taking assets into state ownership. ... Shijiazhuang (Simplified Chinese: 石家庄; Traditional Chinese: 石家莊; pinyin: , literally, The Shi Family Village) is a prefecture-level city about 320 kilometers south of Beijing and the capital of Hebei province. ... Hebei (Chinese: 河北; pinyin: ; Wade-Giles: Ho-pei; Postal System Pinyin: Hopeh) is a northern province of the Peoples Republic of China. ... Beijing (Chinese: 北京; ; IPA: ), a city in northern China (formerly spelled in English as Peking or Peiking), is the capital of the Peoples Republic of China (PRC). ... 1949 (MCMXLIX) was a common year starting on Saturday (the link is to a full 1949 calendar). ... 1978 (MCMLXXVIII) was a common year starting on Sunday (the link is to a full 1978 calendar). ... It has been suggested that Function of commercial bank be merged into this article or section. ...

In the 1980s, as part of economic reform, the commercial banking functions of the PBC were split off into four independent but state-owned banks, and the mission of the PBC was refocused to undertake only the functions of a central bank. This change was reflected in the People's Bank of China Law which was adopted in 1995 whose goal was to complete the transformation of the People's Bank of China into a central bank, consciously modelled after the United States Federal Reserve System. Accordingly, in 1998, the PBC underwent a major restructuring. All provincial and local branches were abolished, and the PBC opened nine regional branches, whose boundaries did not correspond to local administrative boundaries. Like its American counterpart, this was intended to reduce the influence that local officials had on the PBC policy making process. MacGyver - 1980s hero The 1980s decade refers to the years from 1980 to 1989, inclusive. ... Economic reforms have triggered internal migrations within China. ... 1995 (MCMXCV) was a common year starting on Sunday of the Gregorian calendar. ... The Federal Reserve System is headquartered in the Eccles Building on Constitution Avenue in Washington, DC. The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central bank of the United States. ... 1998 (MCMXCVIII) was a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean. ...

The Governor of the People's Bank of China is chosen by the National People's Congress. The current Governor is Zhou Xiaochuan. Zhu Rongji, Premier of the People's Republic of China from 1998 to 2003, was also a former Governor. The Great Hall of the People, where the NPC convenes The National Peoples Congress (全国人民代表大会 in Pinyin: Quánguó Rénmín Dàibiǎo Dàhuì, literally Pan-Nation Congress of the Peoples Representatives), abbreviated PNCOTPR, is the highest legislative body in the Peoples Republic of China. ... Zhou Xiaochuan. ... ZhÅ« Róngjì (born October 1, 1928, Simplified Chinese: 朱镕基; Traditional Chinese: 朱鎔基; Wade-Giles: Chu Jung-chi) was the 9th Premier of the Peoples Republic of China State Council (March 1998-March 2003), and was a Standing Committee member of the Politburo of 15th CPC Central Committee (September 1997-November... The Premier ( Chinese: 总理 pinyin: zŏnglĭ), sometimes referred to as the Prime Minister, is the Chairman of the State Council of the Peoples Republic of China and head of Central Peoples Government. ... 1998 (MCMXCVIII) was a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean. ... 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ...

The activities of the central bank and other details are regulated by the Law of the People's Republic of China on the People's Bank of China.

In Hong Kong, the central bank is the Hong Kong Monetary Authority and policy is directed by the Financial Secretary. The Hong Kong Monetary Authority (香港金融管理局) or HKMA (金管局) in short is a government authority founded on 1st April 1993 in Hong Kong from the consolidation of the Office of the Exchange Fund and the Office of the Commissioner of Banking. ... Financial secretary is an administrative and executive position within the governance of a corporation, private or public organization, small group or other body with financial assets. ...

Benchmark one-year lending rate

• 5.58% (increased by 27 basis points on Oct. 29, 2004)

A basis point (bp) is 0. ...

External links

• People's Bank of China, English-version web site