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  1. The People's Bank of China (officially PBC [3] and unofficially PBOC [4]) is the central bank of the People's Republic of China. [5] It is responsible for carrying out monetary policy as determined by the People's Bank Law and the Commercial Bank Law. The PBC was established in 1948 and became China's sole central bank after the ...

    • People's Bank

      People's Bank of China, the Central Bank of the People's...

  2. The People's Bank of China (PBC or PBOC, is the central bank of the People's Republic of China with the power to carry out monetary policy and regulate financial institutions in mainland China. The People's Bank of China has more financial assets than any single public institution in the world.

  3. History. Home > About PBC > History. A Brief History of the People’s Bank of China. The People’s Bank of China (PBC) was established on December 1, 1948, in Shijiazhuang, Hebei Province, by consolidating the former Huabei Bank, Beihai Bank and Xibei Farmers Bank. The Renminbi (RMB) was put into circulation at the same time.

  4. Oct 2, 2023 · Learn about the history, functions, and financial position of the PBoC, the central bank of China. The PBoC regulates the financial system, sets interest rates, issues the yuan, and manages foreign exchange reserves.