Historicalevolution
ThepredecessorofthePeople’sBankofChina
ThehistoryofthePeople’sBankofChinacanbetracedbacktotheSecondCivilRevolutionaryWar.OnNovember7,1931,atthe"FirstNationalSovietCongress"heldinRuijin,Jiangxi,aresolutionwaspassedtoestablishthe"NationalBankoftheChineseCommunistSovietRepublic"(referredtoastheNationalBankoftheSovietRepublic)andissuecurrency.FromtheAgrarianRevolutiontotheWarofResistanceAgainstJapaneseAggressionuntiltheeveofthebirthofthePeople’sRepublicofChina,thepeople’spowerwasdividedintoareasthatcouldnotbeconnectedtoeachother.Eachbaseareahasestablishedrelativelyindependentanddecentralizedbaseareabanks,andeachhasissuedcurrenciesthatcirculateinthebasearea.
Theinitialstageofestablishment
TheestablishmentofthePeople’sBankofChinaandtheestablishmentofthenationalbankingsystem(1948to1952)
December1948Onthe1st,basedontheNorthChinaBank,theNorthSeaBankandNorthwestFarmersBankweremergedtoformthePeople'sBankofChinainShijiazhuang,Hebei,andissuedRenminbi,whichbecamethecentralbankandlegalstandardcurrencyofthePeople'sRepublicofChinaafterthefoundingofthePeople'sRepublicofChina.
OnDecember1,1948,thePeople'sBankofChinaannounceditsestablishmentinShijiazhuangCity,HebeiProvince.TheNorthChinaPeople'sGovernmentissuedanoticethatdaythattheRMBissuedbythePeople'sBankofChinawillcirculateinthethreeregionsofNorthChina,EastChina,andNorthwestChina.AllpublicandprivatepaymentsandalltransactionsarebasedonRMBasthecurrency.
InFebruary1949,thePeople'sBankofChinamovedfromShijiazhuangCitytoPeiping.InSeptember1949,theChinesePeople’sPoliticalConsultativeConferencepassedthe"OrganizationLawoftheCentralPeople’sGovernmentofthePeople’sRepublicofChina",incorporatingthePeople’sBankofChinaintotheseriesofunitsdirectlyundertheCentralPeople’sItsnationalbankfunctionsareresponsibleforissuingnationalcurrency,managingnationaltreasury,managingnationalfinance,stabilizingfinancialmarkets,andsupportingeconomicrecoveryandnationalreconstruction.
Duringtherecoveryperiodofthenationaleconomy,thePeople’sBankofChina,undertheunifiedleadershipoftheCentralPeople’sGovernment,setouttoestablishaunifiednationalbankingsystem:First,anindependentandunifiedcurrencysystemwasestablishedtomaketherenminbiafunctionalcurrencyindomesticcirculation.,Coordinatewithvariouseconomicdepartmentstocontrolinflation;second,quicklybuildbranches,formanationalbankingsystem,takeoverbureaucraticcapitalbanks,andrectifytheprivatefinancialindustry;third,implementfinancialmanagement,reducetouristcapital,andcrackdownontheblackmarketingoldandsilverandforeigncurrencies.TheprerogativeoftheChinaForeignCommercialBankprohibitsthecirculationofforeigncurrencyandmanagesforeignexchangeinaunifiedmanner;thefourthistocarryoutdeposits,lending,exchangeandforeignexchangebusinesses,promotetheexchangeofurbanandruralmaterials,andprepareforthecountry'seconomicconstruction.
Bytheendoftherecoveryperiodofthenationaleconomyin1952,thePeople’sBankofChina,asthenationalbankofthePeople’sRepublic,establishedanationwideorganizationalsystemwithverticalleadership;unifiedtheissuanceofRMBandgraduallyacceptedthecurrencyissuedbytheliberatedareas,AllthecurrenciesissuedbytheKuomintanggovernmentwereclearedandexchangedwithinatimelimit,quicklymakingtherenminbiaunifiednationalcurrency;unifiedmanagementofvariousfinancialinstitutionswasimplemented.ThePeople’sBankofChinamadefulluseofcurrencyissuanceandmonetarypolicy,implementedcashmanagement,carriedout"depositcollection,treasuryconstruction,andflexibleallocation",andusedmethodssuchasdiscountedsavingsanddepositinterestratestocontrolthesupplyanddemandofcurrencyinthemarket,andreversedthefinancialmarketintheearlydaysofthefoundingofthePeople’sRepublicofChina.Thechaoticsituationfinallystoppedthe20-year-oldhyperinflationleftbytheKuomintanggovernment.Atthesametime,inaccordancewiththepolicyof"balancebetweenpublicandprivate,laborandcapital,mutualassistancebetweenurbanandruralareas,andinternalandexternalexchanges",inlinewiththeadjustmentofindustryandcommerce,theflexibleallocationoffundshassupportedtherapidgrowthofthestate-ownedeconomy,andmoderatelyincreasedloanstotheprivateandindividualeconomy;Ithasfacilitatedtheexchangeofmaterialsbetweenurbanandruralareas,andhasmadesignificantcontributionstothestabilityoftheRMBcurrencyandtherecoveryanddevelopmentofthenationaleconomy.
Theplannedeconomy
TheNationalBankintheperiodoftheplannedeconomicsystem(1953to1978)
Intheunifiedplanningsystem,Thetop-downPeople'sBanksystemhasbecomethebasicmeansforthestatetoabsorb,mobilize,concentrateanddistributecreditfunds.Withtheaccelerationofsocialisttransformation,theprivatefinancialindustryhasbeenincorporatedintothetrackofpublic-privatejointbanking,formingacentralizedandunifiedfinancialsystem.Astheinstitutionofnationalfinancialmanagementandcurrencyissuance,thePeople'sBankofChinaisbothastateagencyforfinancialmanagementandacomprehensiveoperationofbankingbusiness.NationalBank.
Inlinewiththehighlycentralizedbankingsystem,acentralizedandunifiedcomprehensivecreditplanmanagementsystemhasbeenestablishedsince1953,thatis,thenationalcreditfunds,regardlessofthesourceoffundsortheuseoffunds,aremanagedbythePeople’sBankofChinaTheheadofficehasaunifiedcontrolandimplementsthemanagementmethodof"unifieddepositsandunifiedloans".Thebankcreditplanisincorporatedintothenationaleconomicplanandhasbecomeanimportantmeansforthecountrytomanagetheeconomy.Thehighlycentralizednationalbankingsystemprovidescomprehensivefinancialsupervisionandservicesforthecountry'slarge-scaleeconomicconstruction.
ThePeople'sBankofChinaisresponsiblefororganizingandregulatingcurrencycirculation,operatingvariouscreditbusinessesinaunifiedmanner,andhasthefunctionsofcomprehensivereflectionandcurrencysupervisionintheimplementationofnationalplans.Banksprovidestate-ownedenterpriseswithexcessworkingcapitalloans,seasonalloansandasmallamountofoverhaulloans,partialproductionworkingcapitalloanstourbanandruralcollectiveeconomy,individualeconomyandprivateeconomy,andproductionloansandrationloanstopoorfarmersinruralareasAndotherlivingloans.Thissystemoflong-termfundsgoingtothefinances,short-termfundsgoingtothebanks,freefundsgoingtothefinances,paidfundsgoingtothebanks,fixedfundsgoingtothefinances,andexcessfundsgoingtothebanks,continueduntil1978.Althoughtherewereseveralchangesduringthisperiod,thebasicpatternHasnotchangedmuch.
Reformandopeningup
TransitionfromtheNationalBanktotheCentralBankSystem(1979-1992)
InJanuary1979,inordertoStrengtheningofthesupportfortheruraleconomy,theAgriculturalBankofChinawasrestored.InMarchofthesameyear,toadapttothenewsituationofopeningupandthedevelopmentofinternationalfinancialservices,theBankofChinawasreformedandtheBankofChinabecameaprofessionalforeignexchangebankdesignatedbythestate;atthesametime,theStateAdministrationofForeignExchangewasestablished.Later,thedomesticinsurancebusinesswasresumed,andthePeople'sInsuranceCompanyofChinawasre-established;trustandinvestmentcompaniesandurbancreditcooperativesweresuccessivelyestablishedinvariousplaces,andtherewasasituationofdiversificationoffinancialinstitutionsanddiversificationoffinancialbusinesses.
Withtheincreasingnumberofeconomicandfinancialinstitutions,thereisanurgentneedtostrengthentheunifiedmanagementandcomprehensivecoordinationofthefinancialindustry.ThePeople’sBankofChinawilltakeovertheresponsibilitiesoftheCentralBankofChinaandbecomeaperfectfinancialsystemandbetterfinancialdevelopment.Thepressingissueoftheindustry.InJuly1982,theStateCouncilapprovedandforwardedthereportofthePeople’sBankofChina,furtheremphasizingthat“ThePeople’sBankofChinaismycountry’scentralbankandthestateagencyundertheleadershipoftheStateCouncilfortheunifiedmanagementofthenation’sfinances.”Thiswasthestartingpointfortheestablishmentofaspecialcentralbank.Thepreparationofthesystem.
OnSeptember17,1983,theStateCouncilofthePeople’sRepublicofChinamadeadecisionthatthePeople’sBankofChinawouldspecificallyperformthefunctionsofthecentralbankandspecified10responsibilitiesofthePeople’sBank.FromJanuary1,1984,thePeople'sBankofChinabegantoexclusivelyperformthefunctionsofthecentralbank,focusingonresearchandimplementationofthenationalfinancialmacrodecision-making,strengtheningthecontrolofthetotalamountofcreditandthecapitaladjustmentoffinancialinstitutions,inordertomaintaincurrencystability;atthesametime;TheIndustrialandCommercialBankofChinawasnewlyestablished.TheindustrialandcommercialcreditandsavingsbusinessesundertakenbythePeople’sBankofChinainthepastwereprofessionallyoperatedbytheIndustrialandCommercialBankofChina;thebranchofthePeople’sBankofChinawasunderverticalleadership;thePeople’sBankofChinaCouncilwasestablishedasacoordinatinganddecision-makingbody;andadepositreservesystemwasestablished.Andthecentralbank’sloansystemtospecializedbanksinitiallydeterminedthebasicframeworkofthecentralbanksystem.
IntheearlydayswhenthePeople’sBankofChinaexclusivelyperformedthefunctionsofthecentralbank,withthedeepeningofthenationaleconomicsystemreformandrapideconomicdevelopment,inordertoadapttotheneedsofmultiplefinancialinstitutions,multiplefinancingchannelsandmultiplecreditinstruments.,ThePeople’sBankofChinacontinuestoreformmechanisms,invigoratefinance,developfinancialmarkets,andpromotefinancialsysteminnovation.ThePeople’sBankofChinastrivestoexploreandimprovethemeansandmethodsofmacro-control.Onthebasisofimprovingthemeansofplannedcontrol,graduallyuseinterestrates,depositreserveratios,centralbankloansandothermeanstocontrolthesupplyofcreditandcurrency,inordertoachieve"macro-control".Theeffectsofmanaging,micro-invigorating,andstabilizing,haveinitiallycultivatedtheabilitytousemonetarypolicytoadjusttheeconomyintheprocessofstopping"creditexpansion","economyoverheating,"andpromotingeconomicrestructuring.
Newfinancialsystem
Graduallystrengthenandimprovethemoderncentralbanksystem(1993-present)
In1993,accordingtotheStateCouncil’s"RegardingtheDecisionontheReformoftheFinancialSystem,thePeople’sBankofChinafurtherstrengthenedfinancialregulation,financialsupervisionandfinancialserviceresponsibilities,andtransferredpolicy-relatedbusinessesandcommercialbankingbusinesses.
OnMarch18,1995,theNationalPeople’sCongresspassedthe"People’sBankofChinaLaw",whichestablishedthestatusofthePeople’sBankofChinaasacentralbankintheformofnationallegislationforthefirsttime,markingthecentralbanksystemMovingtowardsthetrackoflegalizationandstandardizationisanimportantmilestoneintheconstructionofthecentralbanksystem.
In1998,inaccordancewiththedeploymentoftheCentralFinancialWorkConference,thePeople’sBankofChinawasreformed,theprovincialbrancheswereabolished,andinter-provincialbrancheswereestablished.Atthesametime,thePeople’sBanksystempartycommitteewasestablishedtoexerciseverticalleadershipoverpartyrelations.,Verticalmanagementofcadres.
In2003,inaccordancewiththe"OpinionsonDeepeningtheReformoftheAdministrativeManagementSystemandInstitutions"approvedbytheSecondPlenarySessionofthe16thCPCCentralCommitteeandtheStateCouncil’sinstitutionalreformplanapprovedbytheFirstSessionoftheTenthNationalPeople’sCongress,theThebankseparatedthesupervisoryfunctionsofbanks,financialassetmanagementcompanies,trustandinvestmentcompaniesandotherdeposit-takingfinancialinstitutions,andintegratedthemwiththerelevantfunctionsoftheCentralFinancialWorkCommittee,andestablishedtheChinaBankingRegulatoryCommission.InSeptemberofthesameyear,theCentralInstitutionalOrganizationCommitteeformallyapprovedthePeople'sBankofChina's"threedecisions"adjustmentopinions.OnDecember27,theSixthMeetingoftheStandingCommitteeoftheTenthNationalPeople'sCongressdeliberatedandpassedtheLawofthePeople'sRepublicofChinaonthePeople'sBankofChina(Amendment).
Aftertheadjustmentofrelevantfinancialregulatoryresponsibilities,thenewfunctionsofthePeople’sBankofChinawereformallyexpressedas“toformulateandimplementmonetarypolicies,maintainfinancialstability,andprovidefinancialservices.”Atthesametime,itclearlydefines:“ThePeople’sBankofChinaistheStateCouncil’sorganizationThedepartmentistheCentralBankofthePeople’sRepublicofChina.Itisamacro-controldepartmentthatformulatesandimplementsmonetarypolicy,maintainsfinancialstability,andprovidesfinancialservicesundertheleadershipoftheStateCouncil.”Thischangeinfunctionsisconcentratedintheformof“oneenhancement,onetransformation,andtwoAnincrease".
"Onereinforcement"meansstrengtheningthefunctionsrelatedtotheformulationandimplementationofmonetarypolicy.ThePeople’sBankofChinamustvigorouslyimprovethelevelofformulatingandimplementingmonetarypolicies,flexiblyusevariousmonetarypolicytoolssuchasinterestratesandexchangeratestoimplementmacro-control;strengthentheresearchandformulationofmoneymarketrules,andstrengthenfinancialMarketsupervisionandmonitoring,paycloseattentiontotherelatedchannels,relevantpoliciesandriskcontrolmeasuresbetweenthemoneymarketandtherealestatemarket,securitiesmarket,andinsurancemarket,andunblockthemonetarypolicytransmissionmechanism.
"Oneconversion"referstotheconversionoftheimplementationofthemacro-controlofthefinancialindustryandthepreventionandresolutionofsystemicfinancialrisks.Inthepast,itwasmainlythroughdirectcontrolmethodssuchasapprovaloftheestablishmentoffinancialinstitutions,businessapproval,qualificationreviewofseniormanagementpersonnel,andsupervisionandguidance,etc.,tothemonitoringoftheoverallriskofthefinancialindustry,theriskoffinancialholdingcompaniesandcross-cuttingfinancialinstrumentsAndassess,preventanddefusesystemicfinancialrisks,andmaintainnationaleconomicandfinancialsecurity;transformintocomprehensiveresearchandformulaterelevantreformanddevelopmentplansandopening-upstrategiesforthefinancialindustry,andpromotebanking,securities,andinsuranceinaccordancewithChina’scommitmentstotheWorldTradeOrganization.ThecoordinateddevelopmentandopeningofmajorindustrieswillenhancetheinternationalcompetitivenessofChina’sfinancialindustryandsafeguardnationalinterests;itwillbetransformedintostrengtheningtheresearchandformulationofpoliciessupportingforeignexchangemanagementtopreventtheimpactofinternationalcapitalflows.
"Twoadditions",namelytheadditionoftwofunctionsofanti-moneylaunderingandmanagementofthecreditinvestigationindustry.ThePeople'sBankofChinaorganizesandcoordinatesnationalanti-moneylaunderingwork,guidesanddeploysanti-moneylaunderingworkinthefinancialindustry,undertakesanti-moneylaunderingfundmonitoringresponsibilities,andparticipatesinrelevantinternationalanti-moneylaunderingcooperation.ThePeople'sBankofChinamanagesthecreditinvestigationindustryandpromotestheestablishmentofasocialcreditsystem.
ThenewchangeshavefurtherstrengthenedtheimportantroleofthePeople’sBankofChinaasChina’scentralbankinimplementingfinancialmacro-control,maintainingcurrencystability,promotingsustainableeconomicgrowth,andpreventinganddissolvingsystemicfinancialrisks.Withthecontinuousimprovementofthesocialistmarketeconomicsystem,thePeople'sBankofChina,asthecentralbank,willplayamoreprominentroleinthemacro-controlsystem.
ApprovedbytheStateCouncil,ZhouXiaochuan,GovernorofthePeople’sBankofChina,sentalettertoIMFPresidentLagardeonOctober6,2015inthecapacityoftheChineseDirectoroftheInternationalMonetaryFund,officiallyinformingChina’sadoptionofaninternationalcurrencyTheIMF’sSpecialDataDisclosureStandards(SDDS)decision.ThisindicatesthatmycountryhascompletedalltheproceduresforadoptingSDDSandwillpublishrelevantstatisticaldatainaccordancewiththeSDDSstandard.OnOctober7,YiGang,ViceGovernorofthePeople'sBankofChina,andLipton,FirstVicePresidentoftheInternationalMonetaryFund,jointlyattendedtheceremonyofChina'sadoptionofSDDSduringtheannualmeetingoftheInternationalMonetaryFundinLima.
InMay2017,theFinancialTechnologyCommitteeofthePeople'sBankofChinaannounceditsestablishment,aimingtostrengthentheresearchplanningandoverallcoordinationoffinancialtechnologywork.
OnSeptember20,2018,thePeople'sBankofChinaandtheHongKongSpecialAdministrativeRegionMonetaryAuthoritysignedamemorandumofcooperationtofacilitatetheissuanceofcentralbankbillsinHongKongandenrichHongKong'shigh-creditRMBfinancialproducts.
Mainresponsibilities
Mainfunctions
Inaccordancewithrelevantlawsandregulations,themainresponsibilitiesofthePeople’sBankofChinaare:
(1)DraftingFinancialindustryreform,openingupanddevelopmentplan,undertaketheresponsibilityofcomprehensivelyresearchingandcoordinatingandsolvingmajorproblemsinfinancialoperation,andpromotingthecoordinatedandhealthydevelopmentofthefinancialindustry.Leadthenationalfinancialsecurityworkcoordinationmechanismtomaintainnationalfinancialsecurity.
(2)Taketheleadinestablishingamacro-prudentialmanagementframework,draftmajorlawsandregulationsinthefinancialindustryandotherrelevantdraftlawsandregulations,formulateabasicsystemforprudentialsupervision,andestablishandimproveabasicsystemforfinancialconsumerprotection.
(3)Formulateandimplementmonetaryandcreditpolicies,improvethemonetarypolicycontrolsystem,andberesponsibleformacro-prudentialmanagement.
(4)Taketheleadinsystemicfinancialriskpreventionandemergencyresponse,beresponsiblefortheformulationofbasicrules,monitoringandanalysis,andconsolidatedsupervisionoffinancialholdingcompaniesandotherfinancialgroupsandsystemicallyimportantfinancialinstitutions,andinstructrelevantsupervisionasappropriateThedepartmentadoptscorrespondingsupervisorymeasures,andwhennecessary,withtheapprovaloftheStateCounciltoinspectandsupervisefinancialinstitutions,taketheleadinorganizingtheformulationandimplementationofsystemicallyimportantfinancialinstitutionsrecoveryanddisposalplans.
(5)Undertaketheresponsibilityofthelenderoflastresort,andberesponsiblefortheinspectionandsupervisionoftheuseofthecentralbank’scapitalinstitutionstoresolvefinancialrisks.
(6)Superviseandmanagetheinter-bankbondmarket,moneymarket,foreignexchangemarket,billmarket,goldmarketandrelatedover-the-counterderivativesproductsoftheabove-mentionedmarkets;taketheleadintheidentificationandearlywarningofcross-market,cross-formatandcross-regionalfinancialrisksAnddisposal,responsibleforthemonitoringandevaluationofcross-cuttingfinancialbusiness,andworkingwithrelevantdepartmentstoformulateunifiedbasicrulesforassetmanagementproductsandcorporatecreditbondmarketsandtheirderivativesmarkets.
(7)ResponsibleforformulatingandimplementingRMBexchangeratepolicies,promotingcross-borderandinternationaluseofRMB,maintaininginternationalbalanceofpayments,implementingforeignexchangemanagement,andresponsibleforinternationalanddomesticfinancialmarkettrackingandmonitoringandriskearlywarning,monitoringandManagecross-bordercapitalflows,hold,manageandoperatethecountry’sforeignexchangereservesandgoldreserves.
(8)Taketheleadintheplanningofimportantfinancialinfrastructureconstructionandcoordinatetheimplementationofsupervision,promotethereformoffinancialinfrastructureandinterconnection,andcoordinatethesupervisionofInternetfinance.
(9)Coordinatethecomprehensivestatisticsofthefinancialindustry,taketheleadinformulatingaunifiedbasicstandardandworkingmechanismforcomprehensivestatisticsofthefinancialindustry,buildanationalfinancialbasicdatabase,andperformrelateddutiesoffinancialstatisticalinvestigation.
(10)Organizetheformulationoffinancialindustryinformatizationdevelopmentplans,beresponsibleforthemanagementandcoordinationoffinancialstandardizationorganizationsandfinancialtechnology-relatedwork,andguidethefinancialindustry’snetworksecurityandinformatizationwork.
(11)IssueRMBandmanageRMBcirculation.
(12)Coordinatetheconstructionofthenationalpaymentsystemandimplementsupervisionandmanagement.Cooperatewithrelevantdepartmentstoformulatepaymentandsettlementbusinessrules,andberesponsibleforthesafe,stableandefficientoperationofthenationalpaymentandsettlementsystem.
(13)ManagerTreasury.
(14)Responsiblefortheorganization,coordination,supervisionandmanagementofanti-moneylaunderingandanti-terroristfinancingacrossthecountry,andresponsibleforthemonitoringoffundssuspectedofmoneylaunderingandterroristactivities.
(15)Managethecreditinvestigationindustryandpromotetheestablishmentofasocialcreditsystem.
(16)ParticipateinglobaleconomicandfinancialgovernancerelatedtothePeople’sBankofChinabusinessandcarryoutinternationalfinancialcooperation.
(17)Engageinfinancialbusinessactivitiesinaccordancewithrelevantregulations.
(18)ManagetheStateAdministrationofForeignExchange.
(19)CompleteothertasksassignedbythePartyCentralCommitteeandtheStateCouncil.
(20)Changeoffunctions.Improvethemacro-controlsystem,innovatecontrolmethods,builddevelopmentplanning,fiscal,financialandotherpolicycoordinationandworkcoordinationmechanisms,strengtheneconomicmonitoring,forecastingandearlywarningcapabilities,establishandimprovemajorissuesresearchandpolicyreserveworkingmechanisms,andenhancetheforward-lookingandtargetedmacro-controlSexualityandsynergy.Focusingontheguidelinesandtasksofthepartyandthecountry’sfinancialwork,strengthenandoptimizefinancialmanagementfunctions,enhancethecoordinationofmonetarypolicy,macro-prudentialpolicies,andfinancialregulatorypolicies,strengthenmacro-prudentialmanagementandsystemicfinancialriskpreventionresponsibilities,andguardthenon-occurrencesystemThebottomlineofsexualfinancialrisks.Inaccordancewiththeworkrequirementsofstreamliningadministration,delegatingpower,combiningdecentralization,optimizingservices,andtransformingfunctions,furtherdeepenthereformoftheadministrativeexaminationandapprovalsystemandthereformofthefinancialmarket,focusonstandardizingandimprovingadministrativeexaminationandapprovalbehavior,andimprovetheefficiencyofadministrativeexaminationandapproval.Acceleratethepromotionof"Internet+governmentservices",strengthensupervisionduringandaftertheevent,andeffectivelyimprovethequalityandeffectivenessofgovernmentservices.Continuetoimprovethefinanciallegalsystem,anddoagoodjobofguaranteeingthereformof"decentralization,regulationandservice"toprovidestrongsupportforstabilizinggrowth,promotingreform,adjustingstructure,andbenefitingpeople'slivelihood,andpromotethesustained,stableandhealthydevelopmentoftheeconomyandsociety.
Mainbusiness
MonetaryPolicy
TheMonetaryPolicyCommitteeofthePeople’sBankofChinaAdvisoryanddeliberativebodyformonetarypolicy.Inaccordancewiththe"People'sBankofChinaLawofthePeople'sRepublicofChina"andthe"RegulationsofthePeople'sBankofChinaMonetaryPolicyCommittee"promulgatedbytheStateCouncil,theMonetaryPolicyCommitteeofthePeople'sBankofChinawasestablishedinJuly1997withtheapprovaloftheStateCouncil.Article12ofthe“People’sBankofChinaLaw”revisedonDecember27,2003clearlystates:“ThePeople’sBankofChinahasestablishedaMonetaryPolicyCommittee.Theresponsibilities,compositionandworkingproceduresoftheMonetaryPolicyCommitteeshallbestipulatedbytheStateCouncilandreportedtotheNationalPeople’sRepresentatives.TheStandingCommitteeoftheGeneralAssemblyfortherecord.TheMonetaryPolicyCommitteeofthePeople'sBankofChinashouldplayanimportantroleinthecountry'smacro-control,monetarypolicyformulationandadjustment."
Themaintoolsofmonetarypolicyinclude:openmarketoperations,depositreserves,centralbankloans,interestratepolicies,andstandinglendingfacilities.
SupervisionandAudit
Renminbi(2sheets)
Bankinglawisthelegalbasisforbanksupervision.Thepurposeofbanksupervisionistoensurethevitalityofthebankingsystemandprotecttheinterestsofdepositorsbymonitoringthecreditandliquidityofvariousbankinginstitutions.Inaddition,thePeople'sBankofChinaplaysaparticularlyimportantroleinChina'sfinancialreform.ThePeople'sBankofChinasupervisesfinancialinstitutionsthroughanalysisofperiodicreportsandon-siteaudits.
Closelyrelatedtobanksupervisionisthesupervisionofthepaymentsystem.Thecentralbankhastheresponsibilitytomaintainthenormaloperationofthenationalpayment,clearingandsettlementsystem.ThePeople’sBankofChinahasbeencommittedtodevelopingitsownpaymentsystem,andWorkcloselywithotherbankinginstitutionstomakethepaymentsystemsrunbythesefinancialinstitutionsmoreefficient,saferandmorereliable.
ThePeople'sBankofChinaisimprovingitsabilitytocloselymonitorthedailypositionsofbanksinthepaymentsystem.
PaymentSystem
Astheorganizer,promoter,andsupervisoroftheconstructionofChina’spaymentsystem,thePeople’sBankofChinaisresponsibleforStatutorydutiessuchasthenormaloperationofthesystem,haveconstructedandoperatedimportantbusinesssystemssuchasthesecond-generationpaymentsystem,thecentralbankaccountingdatacentralizedsystem,thenationalcheckimageexchangesystem,andthedomesticandforeigncurrencypaymentsystem,providingfinancialinstitutionsandfinancialmarketswithlow-cost,Thehigh-efficiencypublicclearingplatformhasacceleratedtheturnoverofsocialfundsandpromotedtherapideconomicandfinancialdevelopment.
AllbranchesofthePeople'sBankofChinaprovidesettlementaccountservicesforallbranchesofcommercialbanks.Inaddition,italsoopenssettlementaccountsforsomegovernmentagenciesandbusinessgroupstoprovidepaymentservices.Forexample,thePostalSavingsandRemittanceBureaualsoopenssettlementaccountsinthePeople'sBank.
ThePeople'sBankofChinadoesnotallowovernightoverdraftsinaccounts,becausemosttransactionsaresettledinbatchesattheendoftheday,sotheconceptofdaytimeoverdraftsdoesnotactuallyapply.Theexceptionistheelectronicinterbanksystem,inwhichtheremustbesufficientfundsintheaccountbeforethepaymentinstructionisissued.
InadditiontothesettlementofpaymenttransactionsthroughthepaymentsystemofthePeople’sBankofChina,thesettlementaccountisalsousedtosettlenetpositionsgeneratedbyotherpaymentsystems,suchastheelectronicfundsexchangesystemofthecommercialbankingsystem.
Inordertomaintainthenormaloperationofthepayment,clearingandsettlementsystem,thePeople’sBankofChina,inadditiontoperforminggeneralsupervision,alsoprovidesafundtransfernetworkforabroadrangeofbankinginstitutions,namely,morethan2,000intra-cityclearinghousesinChina,Chinamanualinter-banksystemandChinaelectronicinter-banksystem.Thesepaymentsystemsplayaneutralroleincompetitionamongbankinginstitutions.ThePeople'sBankofChinaexertscertaininfluenceonthepaymentservicesprovidedbycommercialbanksthroughbusinessterms,processingprocedures,debitandcreditterms,andchargingpolicies.
CreditServices
CreditpolicyisanimportantpartofmacroeconomicThetotalamountanddirectionofcreditisanimportantmeansofimplementingguidance,regulationandsupervisiontopromotecontinuousoptimizationofcreditinvestment,realizingtheoptimalallocationofcreditfundsandpromotingeconomicrestructuring.TheformulationandimplementationofcreditpoliciesisanimportantresponsibilityofthePeople'sBankofChina.
Manager'sTreasury
Thecentralbank'smanagementoftheTreasurybeganin1985.The“NationalTreasuryRegulations”promulgatedin1985stipulated:“ThePeople’sBankofChinaspecificallymanagesthetreasury.OrganizingandmanagingthetreasuryisanimportantresponsibilityofthePeople’sBank.”Sincethen,thebasicpositionofthePeople’sBankofChinainthemanagementofthetreasuryhasbeenscientificallyestablished.Accurateexpression.Sincethen,ithasbeensuccessivelyreflectedinthesubsequentpromulgated"DetailedRulesfortheImplementationoftheNationalTreasuryRegulations"(1986,1989),"BudgetLaw"(1994),"BudgetLawImplementationRegulations"(1995),and"People'sBankofChinaLaw"(1995,2003)Aswellastherelevantlawsandregulations,suchastheadjustmentoftheresponsibilitiesofvariousdepartmentsofthe"CentralOrganizationOffice".Basedonthisbasicpositioning,theTreasurySystemoftheCentralBankofChinahasbeenestablished.
CreditInvestigationManagement
Accordingtothe"People'sBankofChinaLawofthePeople'sRepublicofChina","TheCompanyLawofthePeople'sRepublicofChina","CreditInvestigationManagementRegulations"Otherlawsandregulations,thePeople’sBankofChinaperformsitsdutiesofsupervisionandmanagementofcreditreportingagenciesinaccordancewiththelaw.BranchesofthePeople'sBankofChinashallperformtheirdutiesofsupervisionandmanagementofcreditreportingagencieswithintheirjurisdictionswithinthescopeofauthorizationoftheheadoffice.InMay2008,theCreditInformationCenterofficiallyheldalistingceremonyinShanghai,anditsregistrationplaceisPudongNewDistrict,Shanghai.The"RegulationsontheAdministrationofCreditInvestigationIndustry"(referredtoasthe"Regulations")thatcameintoeffectonMarch15,2013,clarifiedthatthecreditinvestigationsystemisabasicdatabaseoffinancialcreditinformationestablishedbythestate.Thecreditreportingcenterhascreditreportingsub-centersin31provincesand5separatecitiesacrossthecountry.
In1997,thePeople'sBankofChinabegantobuildabankcreditregistrationandconsultingsystem(thepredecessorofthecorporatecreditinformationsystem).From2004to2006,thePeople'sBankofChinaorganizedfinancialinstitutionstobuildacentralizedandunifiedcorporateandpersonalcreditinvestigationsystemacrossthecountry.AsoftheendofApril2015,thecreditinformationsystemincludedmorethan860millionnaturalpersonsandnearly20.68millionenterprisesandotherorganizations.Thecreditinvestigationsystemcomprehensivelycollectscorporateandpersonalinformation.
InstitutionalSetup
InternalInstitutions
(1)GeneralOffice(PartyCommitteeOffice).Responsibleforthedailyoperationoftheagency,undertakinginformation,security,confidentiality,lettersandvisits,opengovernmentaffairs,newsandpublicity,etc.UndertakethedailyworkoftheOfficeofthePartyCommitteeofthePeople'sBankofChina.
(2)ArticleLawDepartment.Draftrelevantlawsandregulations,draftandreviewregulations.Draftimportantlawsandregulationsforthebankingandinsuranceindustriesandthebasicsystemofprudentialsupervision.Undertakelegalityreviewandcentralbanklegalaffairs.Undertakeadministrativereconsiderationandadministrativeresponsework.
(3)ResearchBureau.Comprehensivelystudythereformanddevelopmentofthefinancialindustryandmajorcross-industryissues,taketheleadindraftingthefinancialindustryreformanddevelopmentplan,andstudypoliciesandmeasurestopromotetheopeningofthefinancialindustry.Focusingontheresponsibilitiesofthecentralbank,itwillstudyandanalyzethemacroeconomicandfinancialoperations,aswellastheimplementationofmajorpoliciesorsystemssuchascurrencyandcredit,financialmarkets,andfinanciallawsandregulations,andputforwardpolicyrecommendations.
(4)MonetaryPolicyDepartment.Formulatemonetarypoliciesandparticipateintheimprovementofthetwo-pillarregulatoryframeworkformonetarypolicyandmacro-prudentialpolicies.Promotemarket-orientedreformsofinterestratesandexchangerates.Formulateandorganizetheimplementationofopenmarketoperations,depositreserves,re-lending,rediscountingandothermonetarypolicytoolcontrolprogramstocontrolinterestratesandliquiditylevels.Innovatemonetarypolicytools.Taketheleadinmacro-prudentialassessment,formulateandimplementforeignexchangemarketcontrolplans.FormulateandimplementtheworkingsystemoftheMonetaryPolicyCommittee.
(5)MacroprudentialAdministration.Taketheleadinestablishingamacro-prudentialpolicyframeworkandbasicsystem,aswellastheevaluation,identificationandresolutionmechanismofsystemicallyimportantfinancialinstitutions.Leadingfinancialholdingcompaniesandotherfinancialgroupsandsystemicallyimportantfinancialinstitutionsintheformulationofbasicrules,monitoringandanalysis,andconsolidatedsupervision.Taketheleadinthemacro-prudentialmanagementoftheforeignexchangemarket,researchandevaluatetheRMBexchangeratepolicy.Formulateandimplementacross-borderRMBbusinesssystem,promotecross-borderandinternationaluseofRMB,andimplementcounter-cyclicaladjustmentsofcross-borderfunds.CoordinatethedevelopmentoftheonshoreandoffshoreRMBmarket.PromotecurrencycooperationbetweencentralbanksandtaketheleadinproposingpolicyrecommendationsontheconvertibilityofRMBcapitalaccounts.
(6)DepartmentofFinancialMarkets.Formulatefinancialmarketreform,openingupanddevelopmentplans.Superviseandmanagetheinter-bankbondmarket,moneymarket,foreignexchangemarket,billmarket,goldmarketandrelatedOTCderivativesintheabove-mentionedmarkets.Formulatebasicrulesforthecorporatecreditbondmarketanditsderivativesmarket.Undertakeimportantfinancialinfrastructureconstructionplanningandcoordinatetheimplementationofspecificworkofsupervision.CoordinateInternetfinancialsupervisionandevaluatefinancialtechnologyinnovationbusiness.Formulateandorganizetheimplementationofmacro-creditguidancepolicies,andundertakespecifictasksforthecoordinationofstructuralfinancialpoliciesassignedbytheStateCouncil,suchassmallandmicro,"agriculture,ruralareasandfarmers",andtechnologicalinnovation.
(7)FinancialStabilityBoard.Monitorandevaluatesystemicfinancialrisks,andtaketheleadinproposingpolicyrecommendationsandhandlingplansforpreventinganddeflatingrisks,andorganizingtheirimplementation.Leadingcross-market,cross-formatandcross-regionalfinancialriskidentification,earlywarninganddisposal,aswellastheformulation,monitoring,analysisandevaluationofbasicrulesforcross-cuttingfinancialbusinessessuchasassetmanagementbusiness.Promotetheimplementationofnationalfinancialsecurityreviewwork.Undertakethedemonstrationandreviewofthereorganizationplanoffinancialinstitutionsusingcentralbankfunds,andparticipateinthemarketexitorreorganizationofrelevantinstitutions.ManagetheassetsformedbythePeople'sBankofChinainfinancialriskdisposalinaccordancewithregulations,andinspectandsupervisetheuseofcentralbankfundingagenciestoresolvefinancialrisks.Organizetheimplementationofthedepositinsurancesystemandmanagethedepositinsurancefundaccordingtoauthorization.
(8)DepartmentofInvestigationandStatistics.Formulateacomprehensivestatisticalplanforthefinancialindustry,andformulateunifiedfinancialstatisticalstandardsandsystems.Responsibleforfinancialstatistics,collectingdata,andcompilingreports.Buildanationalfinancialbasicdatabaseandrealizeinformationsharing.Announcestatisticalsurveyresultsandprovideconsultationsinaccordancewithregulations.Responsiblefortheinvestigation,analysisandforecastingofcentralbankpolicies.
(9)PaymentandSettlementDivision.Organizetheconstructionofthenationalpaymentsystemandimplementsupervisionandmanagement.Formulatepaymentandsettlementbusinessrulesandbankaccountsandpaymentaccountmanagementrulesandregulations,andorganizetheimplementationofthereal-namesystemforbankaccountsandpaymentaccounts.Formulatebusinessrulesforelectronicpayments,digitalpaymentsandotherpaymenttools.Organizetheconstruction,supervisionandmanagementofChina'sdomesticandcross-borderpayment,clearing,andsettlementsystems.Organizetheevaluationoffinancialmarketinfrastructure,promotetheinterconnectionofinfrastructure,andformulaterelevantbusinessrules.Superviseandmanagenon-bankpaymentinstitutions,clearinginstitutionsandotherpaymentserviceorganizations.Carryoutpaymentinformationutilizationandsupervision.OrganizetheaccountingofthePeople'sBankofChina.
(10)DepartmentofScienceandTechnology.Formulatethefinancialindustryinformatizationdevelopmentplan,andundertakethemanagementandcoordinationoffinancialstandardizationorganizations.Guideandcoordinatetheconstructionofnetworksecurityandinformatizationinthefinancialindustryandtheconstructionofkeyinformationinfrastructureinthefinancialindustry.Formulateandpromotetheimplementationoffinancialtechnologydevelopmentplans,formulatebasicrulesforfinancialtechnologysupervision,andguideandcoordinatetheapplicationoffinancialtechnology.Responsibleforscientificandtechnologicalmanagement,informatizationplanningandconstructionofthePeople'sBankofChina.
(11)CurrencyandGoldandSilverBureau(SecurityBureau).Toformulateandorganizetheimplementationofrelevantpoliciesandsystemsforcurrencyissuance,cashmanagement,andimportandexportmanagementofgoldanditsproducts.UndertakeRMBmanagementandmaintaintheorderofRMBcirculation.Leadtheorganizationofanti-counterfeitcurrencywork,collectandmonitorcounterfeitcurrencyintelligenceinformation,studyandanalyzethesituationandcharacteristicsoflaws.FormulateandorganizetheimplementationofRMBdevelopmentplansandproductionplans,andundertakeRMBallocationandissuancedatabasemanagement.Managecashplacement,recyclinganddestruction.Custodyofnationalreservesofgoldandsilver;responsibleforthesecurityofthePeople'sBankofChinasystem.
(12)StateTreasuryBureau.Formulateandorganizetheimplementationofthebankpaymentandsettlementsystemfortreasuryfunds,andparticipateintheformulationofthetreasurymanagementandcentralizedcollectionandpaymentsystemsforthetreasury.Openasingletreasuryaccountforthefinancialdepartmenttohandlebudgetfundreceipt,division,retention,refundandappropriation.Statisticalanalysisoftherevenueandexpenditureofstatetreasuryfunds.Regularlyprovidethefinancialdepartmentatthesamelevelwiththeincomeandexpenditureandcashsituationofthesingletreasuryaccount,andchecktheinventorybalance.Responsiblefortreasurycashmanagementrelatedwork.Performsupervisionandmanagementresponsibilitiesinaccordancewithregulations,andmaintainthesafetyandintegrityofstatetreasuryfunds.ActingforthefinancialdepartmentoftheStateCounciltoissueandredeemtreasurybondstofinancialinstitutions.
(13)InternationalDepartment(HongKong,MacaoandTaiwanOffice).Responsibleforfinancialindustryopening-uprelatedwork,andparticipateinrelatedglobaleconomicandfinancialgovernance.UndertaketheexchangesandcooperationbetweenthePeople'sBankofChinaandrelevantinternationalfinancialorganizations,variousfinancialauthorities,andHongKong,MacaoandTaiwan.ResponsiblefortheforeignaffairsmanagementofthePeople'sBankofChinasystemandthebusinessguidanceofoverseasinstitutions.Coordinaterelevantinternationalfinancialcooperationandrule-making,andparticipateinforeigninvestmentandfinancingcooperation.Carryoutinternationalfinancialresearch.
(14)CreditBureau.Organizetheformulationofcreditinvestigationandcreditratingindustrydevelopmentplans,lawsandregulations,andindustrystandards,andpromotetheconstructionofasocialcreditsystem.Promotetheestablishmentofacreditinvestigationsystemcoveringthewholesociety,andundertakethemanagementofcreditinvestigationmarketaccessandopeningtotheoutsideworld.Superviseandmanagethecreditreportingsystemandrelatedcreditreportingactivitiesofitsaccessinstitutions,safeguardthelegitimaterightsandinterestsofcreditreportinginformationsubjects,andstrengthentheprotectionofpersonalcreditreportinginformation.
(15)Anti-MoneyLaunderingBureau.Organizeandcoordinateanti-moneylaunderingandanti-terroristfinancingwork.Taketheleadindraftinganti-moneylaunderingandanti-terroristfinancingpoliciesandregulations.Superviseandinspecttheperformanceofanti-moneylaunderingandanti-terroristfinancingobligationsbyfinancialinstitutionsandnon-financialhigh-riskindustries.Collect,analyzeandmonitorlarge-valueandsuspicioustransactioninformationprovidedbyrelevantdepartments,conductanti-moneylaunderingandanti-terroristfinancinginvestigations,andassistrelevantdepartmentsininvestigatingsuspectedmoneylaundering,terroristfinancingandrelatedcriminalcases.Undertakeinternationalcooperationinanti-moneylaunderingandanti-terroristfinancing.
(16)FinancialConsumerRightsProtectionBureau.Comprehensivelystudythemajorissuesoffinancialconsumerprotection,formulatedevelopmentplansandbusinessstandards,andestablishandimprovethebasicsystemoffinancialconsumerprotection.Taketheleadintheestablishmentofafinancialconsumerprotectioncoordinationmechanism,coordinatethedevelopmentoffinancialconsumereducation,andtaketheleadinbuildingasupervisorylawenforcementcooperationandnon-litigationthird-partyresolutionmechanism.Coordinateandpromoterelatedinclusivefinancework.CarryoutspecificworkontheprotectionoffinancialconsumptionrightsandinterestswithintheresponsibilitiesofthePeople'sBankofChinainaccordancewiththelaw.
(17)AccountingandFinanceDepartment.ToformulatespecificmeasuresforthePeople’sBankofChinatoimplementthenationalaccountingsysteminaccordancewiththelaw,toputforwardsuggestionsfortheformulationofaccountingstandardsandsystemsforfinancialinstitutions,andtosuperviseandinspecttheaccountingdataofrelevantunitsinaccordancewithlawsandregulations.OrganizeandimplementtheindependentfinancialbudgetmanagementsystemofthePeople'sBankofChinainaccordancewiththelaw.Prepareaccountingandfinancialreports.Responsibleforthemanagementofaccounting,financialbudgeting,capitalconstruction,fixedassetsandcentralizedprocurementofthePeople'sBankofChina.
(18)InternalAuditDepartment(OfficeoftheLeadingGroupofPartyCommitteeInspectionWork).Supervise,inspectandevaluatethesystem'sfinancialrevenueandexpenditure,economicactivities,businessactivities,internalcontrol,riskmanagementandtheperformanceofdutiesbystaff.OrganizeandcarryouttheeconomicresponsibilityauditoftheleadingcadresofthePeople'sBankofChina.Guide,supervise,andmanagetheinternalauditworkofthesystem.UndertakethedailyworkoftheLeadingGroupofthePeople'sBankofChinaPartyCommitteeInspectionWork,andorganizesystematicinspections.
(19)PersonnelDepartment(PartyCommitteeOrganizationDepartment).Responsibleforpersonnelaffairs,organizationestablishment,laborwages,endowmentinsurance,educationandtrainingandtalentteambuildingofthePeople'sBankofChina.Toguidetheparty'sorganizationconstructionandpartymembereducationandmanagementofthePeople'sBankofChina.
(20)PartyCommitteePropagandaDepartment(PartyCommitteeMassWorkDepartment).Responsiblefortheparty'sideologicalconstructionandpropagandaworkofthePeople'sBankofChina.Responsibleforideologicalwork,ideologicalandpoliticalwork,spiritualcivilizationconstruction,andcentralbankculturalconstruction.Responsibleforguidingandcoordinatingtheworkofthemassesofthesystem.
(Twenty-first)Counselor'sOffice.Undertakefinancialdecision-makingconsultingwork,conducteconomicandfinancialsurveysandresearch,andputforwardopinionsandsuggestions.Implementtheparty'sunitedfrontguidelinesandpolicies,andparticipateinunitedfrontworkandunitedfrontnetworkingactivities.Receiveconsultationsonfinancialhistoryandotheraspects,compilememoirsandgatherworkexperience,etc.
OrganizationPartyCommittee.Responsiblefortheparty-massworkofgovernmentagencies,directlyaffiliatedenterprisesandinstitutionsandrelatedunitsthathavenotestablishedpartycommittees.
TheBureauofRetiredOfficers.Responsiblefortheworkofretiredcadresoftheagency,inspectingandguidingtheworkofretiredcadresofthePeople'sBankofChina.
ShanghaiHeadquarters
TheShanghaiHeadquartersofthePeople’sBankofChinawasformallyestablishedonAugust10,2005.Asanintegralpartoftheheadoffice,itcarriesoutworkundertheleadershipandauthorizationoftheheadoffice,andismainlyresponsibleforPartofthespecificoperationalresponsibilitiesofthecentralbank'sbusiness,whileperformingcertainmanagementfunctions.TheoverallgoaloftheShanghaiheadquarterscanbesummarizedas"twoplatforms,onewindowandonecenter",thatis,tobuildtheShanghaiheadquartersintoaplatformfortheheadoffice'sopenmarketoperations,aplatformforfinancialmarketoperationmonitoring,animportantwindowforforeignexchanges,andapartoffinancialservices.Thecenterofbusinesswithresearchanddevelopment.
MainResponsibilities:
(1)Organizeandimplementthecentralbank’sopenmarketoperationsaccordingtotheoperationalobjectivesproposedbytheheadoffice;undertaketherediscountbusinessofcommercialbanksandbillfranchiseesinShanghai,etc.
(2)Managetheinter-bankmarket,trackthedevelopmentofthefinancialmarket,researchandguidetheinnovationoffinancialproducts;analyzetheimpactofmarkettoolsonmonetarypolicyandfinancialstability;beresponsibleforregionalfinancialstabilityandforeignfinancialsecurityEvaluate.
(3)Responsibleforthecollection,summaryandanalysisofrelevantfinancialmarketdata;conductspecialresearchonmonetarypolicyoperations,financialmarketdevelopment,andfinancialcenterconstruction.
(4)Responsibleforrelatedregionalfinancialexchangesandcooperation,andundertakerelatedinternationalfinancialaffairs.
(5)UndertaketherelevantbusinessofthePeople’sBankofShanghaiarea.
(6)Accordingtothemanagementauthority,beresponsibleforthepersonnel,partybuilding,internalaudit,disciplinaryinspectionandsupervisionoftheShanghaiheadquartersandjurisdiction.
(7)ResponsibleforthemanagementofrelevantinstitutionsofthePeople’sBankofChinainShanghaiandtheassistanceofrelevantinstitutions.
(8)Toundertakeothermattersassignedbytheheadoffice.
TheestablishmentoftheShanghaiHeadquartersoftheCentralBankisanimportantinstitutionalarrangementforimprovingthecentralbank’sdecision-makingandoperatingsystemandbetterexertingthecentralbank’smacro-controlfunctions.ItisalsoanimportantinstitutionalarrangementforpromotingtheconstructionofShanghai’sinternationalfinancialcenter.Importantmove.
Directlyaffiliatedinstitutions
ThePeople'sBankofChinaServiceCenter
ThePeople'sBankofChinaCentralizedProcurementCenter
ChinaAnti-MoneyLaunderingMonitoringandAnalysisCenter
p>CreditInvestigationCenterofthePeople'sBankofChina
ChinaForeignExchangeTradingCenter(NationalInterbankFundingCenter)
ChinaFinancePress
FinancialTimesNewspaper
ThePeople’sBankofChinaClearingCenter
ChinaBanknotePrintingandMintingCorporation
ChinaGoldCoinCorporation
ChinaFinancialElectronicTechnologyCompany
ThePeople’sBankofChinaPartySchool
ChinaFinancialTrainingCenter
ThePeople’sBankofChinaZhengzhouTrainingInstitute
ChinaCoinMuseum
People’sBankofChinaFinancialInformationCenter
Branches
RegionalHeadquarters | People’sBankofChinaShanghaiHeadquarters |
ManagementDepartment | People'sBankofChinaBeijingBusinessManagementDepartment |
ChongqingBusinessManagementDepartment,People’sBankofChina | |
Tianjinbranchjurisdiction | People'sBankofChinaTianjinBranch |
People'sBankofChinaShijiazhuangCenterSub-branch | |
People'sBankofChinaTaiyuanCentralSub-branch | |
People'sBankofChinaHohhotCentralSub-branch | |
Shenyangbranchjurisdiction | People'sBankofChinaShenYangBranch |
People'sBankofChinaChangchunCenterBranch | |
People'sBankofChinaHarbinCenterSub-branch | |
ShanghaiBranch | People'sBankofChinaHangzhouCenterBranch |
People'sBankofChinaFuzhouCentralSub-branch | |
RegionofNanjingBranch | People'sBankofChinaNanjingBranch |
HefeiCentralSub-branchofPeople'sBankofChina | |
Jinanbranchjurisdiction | People'sBankofChinaJinanBranch |
People'sBankofChinaZhengzhouCenterBranch | |
Wuhanbranchjurisdiction | People'sBankofChinaWuhanbranch |
People'sBankofChinaChangshaCenterBranch | |
People'sBankofChinaNanchangCenterSub-branch | |
Guangzhoubranchjurisdiction p> | People'sBankofChinaGuangzhouBranch |
People'sBankofChinaNanningCenterBranch | |
People'sBankofChinaHaikouCenterSub-branch | |
Chengdubranchjurisdiction | People'sBankofChinaChengduBranch |
People'sBankofChinaGuiyangCenterSub-branch | |
People'sBankofChinaKunmingCenterSub-branch | |
People'sBankofChinaLhasaCentralSub-branch | |
Xi'anbranchjurisdiction | People'sBankofChinaXi'anBranch |
People'sBankofChinaLanzhouCenterSub-branch | |
People'sBankofChinaXiningCenterSub-branch | |
People'sBankofChinaYinchuanCenterSub-branch | |
UrumqiCentralSub-branchofthePeople’sBankofChina | |
Citieslistedseparatelyintheplan | People'sBankofChinaXiamenCenterSub-branch |
People'sBankofChinaNingboCenterSub-branch | |
People'sBankofChinaQingdaoCenterBranch | |
People'sBankofChinaDalianCenterBranch p> | |
People'sBankofChinaShenzhenCenterSub-branch |
Sourceofreferencematerials:
Informationdisclosure
Staffcomposition
Asoftheendof2015,thetotalnumberofregisteredstaffofthePeople’sBankofChinawas128,323(includingChinese19591peopleinthecompanyaffiliatedtotheBanknotePrintingandMintingCorporation).Amongthem,44,036werefemaleemployees,accountingfor34.32%ofthetotal.Thereare1094doctoralstudents,11814postgraduates,and68682undergraduates,accountingfor0.85%,9.21%and53.52%ofthetotalnumberrespectively.Thereare717peopleintheheadoffice(includingstafffrompublicinstitutionsandaffiliatedinstitutions),599peopleintheShanghaiheadoffice,and2054peopleintheenterprisesandinstitutionsdirectlyundertheheadoffice.
TheThreePublicFunds
ThePeople’sBankofChina’s2016“ThreePublicFunds”budgetamountedto311.3286millionyuan,including:34.038millionyuanforbusinesstripsabroad(border)expenses,thepurchaseofofficialvehiclesandOperatingexpenseswere177,481,700yuan(alloperatingexpenses),andofficialreceptionexpenseswere99,808,100yuan.The2016budgetwasbasicallythesameasthe2015budget.
ThePeople'sBankofChina's2015"ThreePublicFunds"budgetis311.5086millionyuan,including:34.038millionyuanforbusinesstripsabroad(border)expenses,officialvehiclepurchaseandoperationexpenses177,661,700yuan,andofficialreceptionexpenses99,808,100yuan.
Publishingbooks
Academicresearch
The"ChinaFinance"magazine(half-monthly)wasfirstpublishedin1950ItwasanationalfinancialpolicyguidancepublicationsponsoredbythePeople’sBankofChinaandsponsoredbyChinaFinancialPublishingHouse."ChinaFinance"magazinewasnamed"NationalHundredKeySocialScienceJournals"bythePressandPublicationAdministrationin1998,andwasnamed"TheFirstNationalExcellentEconomicJournal"inthesameyear."(DoubleHundredPeriodicals),haslongbeenlistedasthenationalChinesecorejournalsbyPekingUniversity,NanjingUniversityandothernationalkeyuniversities.In2008and2009,itwasratedas"Chinesenewspapersfavoredbyadvertisersandadvertisers"byChinaJournalAssociationandotherinstitutionsin2008and2009.CurrentAffairsandFinance)".Themagazine(semi-monthly)ispublishedonthe1stand16thofeachmonth,withtheunifieddomesticissuenumberCN11-1267/F,theinternationalstandardissuenumberISSN0578-1485,andthedomesticpostalcodenumber2-496.
"FinancialResearch"wasfoundedin1979.ItisheadedbythePeople'sBankofChinaandsponsoredbytheChinaFinanceSociety.Itisanauthoritativepublicationinthefieldofeconomicandfinancialacademicresearchinmycountry.ThepurposeofthepublicationistoserveChina'seconomicreformsandleadresearchandpolicydirectionsintheeconomicandfinancialfields.Thepublicationhasbeeninexistenceformorethan30years."FinancialResearch"recordsthebasiccontextandtheoreticaltrendsofChina'seconomicandfinancialreforms.Publishedonthe25thofeachmonth,theunifieddomesticissuenumberisCN11-1268/F,theinternationalstandardissuenumberISSN1002-7246,andthepostalcode:2-637.
"FinancialAccounting"(monthly)isanationalcentral-levelfinancialaccountingperiodicalsponsoredbythePeople'sBankofChinaandsponsoredbytheChinaFinancialAccountingAssociation.FoundedinDecember1993,itisanational-levelprofessionalacademicjournaljointlyestablishedbythePeople'sBankofChina,thefivemajorcommercialbanksofIndustry,Agriculture,China,Construction,andCommunicationsandfinancialinstitutionssuchasthePeople'sInsuranceCompanyofChina.Thekeycolumnsmainlyincludespecialarticlesofthisjournal,accountingresearch,financialaspect,paymentandsettlement,treasurybusiness,fiscaltaxation,insurancepage,grassrootsforums,etc."FinancialAccounting"(monthly)hasacolorcover,andtheunifieddomesticissuenumberisCN11-3329/F.
Themagazine"ChinaMoneyMarket"wasfoundedinOctober2001.ItisafinancialmonthlymagazineinEnglishandChinesehostedbythePeople'sBankofChinaandsponsoredbytheChinaForeignExchangeTradingCenter.ThemagazinefollowsthepurposeofrunningapublicationbasedontheChinesecurrencyandlookingatglobalfinance,focusingonboththeoryandpractice,takingintoaccountpolicyresearchandacademicdiscussion,andquicklyprovidingtheinter-bankforeignexchangemarket,moneymarket,bondmarket,andfinancialderivativeproducttransactiondataandmarketactivities.Sexualinformation,focusingonobjectivelyandtimelyreflectingthedevelopmentstatusandtrendsoftheChineseandinternationalfinancialmarkets."ChinaMoneyMarket"domesticunifiedissuenumberCN31-1873/F,internationalstandardissuenumberISSN1671-4180,postalcode:4-712.
Othersinclude"FinancialTimes","FinancialExpo","ChineseFinanciers","FinancialElectronics","ChineseCoins","People'sBankofChinaAnnualReport","ChinaFinancialYearbook",etc.magazine.
Coinpopularity
IssuanceofRMB
ThefirstsetofRMBwasissuedfromDecember1,1948toDecember1953.Thereareatotalof12denominationsand62versions,including2typesof1yuancoupons,4typesof5yuancoupons,4typesof10yuancoupons,7typesof20yuancoupons,7typesof50yuancoupons,10typesof100yuancoupons,and5typesof200yuancoupons.Types,6typesof500-yuancoupons,6typesof1,000-yuancoupons,5typesof5,000-yuancoupons,4typesof10,000-yuancoupons,and2typesof50,000-yuancouponsTherearetwoversions).
ThesecondsetofRMBwasissuedfromMarch1,1955toApril20,1962.TheStateCouncilissuedanorderonFebruary21,1955,decidingthatthePeople'sBankofChinawillissuethesecondsetofrenminbiandtakebackthefirstsetofrenminbifromMarch1,1955.Thesecondsetofrenminbihas10types,1cent,2cents,5cents,1jiao,2jiao,5jiao,1yuan,2yuan,3yuanand5yuan.OnDecember1,1957,another10yuanwasissued..
ThethirdsetofRMB(16sheets)
ThethirdsetofRMBwasissuedfromApril20,1962toJanuary5,1974.Thethirdsetofrenminbiandthesecondsetofrenminbihavethesamedenominationsandaremixedandcirculatedinthemarket.Onthebasisofthesecondsetofrenminbi,theversionwascompletelyadjustedandreplaced,the3yuanbanknotesinthesecondsetofrenminbiwerecancelled,andfourmetalcoinsof1jiao,2jiao,5jiaoand1yuanwereadded.Thethirdsetofrenminbibeganwiththereleaseoftheclaret-red1jiaobanknotesonApril20,1962totheissuanceof1jiao,2jiao,5jiao,and1yuancoinsonApril15,1980.ThefourthsetofRMBwasissuedfromApril27,1987toSeptember22,1998.OnApril25,1987,theStateCouncilissuedanordertoissuethefourthsetofrenminbi,orderingthePeople’sBankofChinatoissuethefourthsetofrenminbioneafteranotherstartingonApril27,1987.
ThefourthsetofRenminbi(16sheets)
ThefourthsetofRenminbihasatotalof14banknotesandadoptsthemethodof"announcementonceandissuanceininstallments".OnApril27,1987,thefirst50yuanand50yuancouponswereissued.OnMay10,1988,100yuan,2yuan,1yuanand2yuanwereissued.OnSeptember22,1988,10yuanand5yuanwereissued.Yuan,1jiaobanknotes.Inordertoimprovetheanti-counterfeitingcapabilityoftheRMB,onAugust20,1992,the1990versionof50yuanand100yuanbanknoteswereissuednationwide.AccordingtotheStateCouncilOrderNo.97ofMay8,1992,thePeople'sBankofChinahasissuedafourthsetofRMB1,50,and1RMBcoinssinceJune1,1992.MakethefourthsetofRMBstructuremoreperfect.Inordertofacilitatemarketcirculation,onMarch1,1995andApril1,1997,the1990and1996versionsof1yuanbanknoteswereissuednationwide.OnApril10,1996,the1990versionofthe2-yuannotewasissuednationwide.ThefifthsetofRMB(16sheets)
ThefifthsetofRMBwillbeissuedafterSeptember28,1999.OnOctober1,1999,ontheoccasionofthe50thanniversaryofthefoundingofthePeople’sRepublicofChina,inaccordancewithOrderNo.268oftheStateCouncilofthePeople’sRepublicofChina,thePeople’sBankofChinasuccessivelyissuedthefifthsetofRMB.ThefifthsetofRMBhaseightdenominations:100yuan,50yuan,20yuan,10yuan,5yuan,1yuan,5yuan,and1yuan.Thefifthsetofrenminbi,basedonthefactthatthemaincurrencyoflowandmediumdenominationsinthemarketactuallyassumestheroleofchange,increasedthedenominationof20yuanandcancelledthedenominationof2yuan,makingthedenominationstructuremorereasonable.ThefifthsetofRMBadoptsthemethodof"announcementonceandissuanceininstallments".OnOctober1,1999,thefirst100yuanbanknotewasissued;onOctober16,2000,20yuanbanknotes,1yuanand1dimecoinswereissued;onSeptember1,2001,50yuanand10yuanbanknoteswereissued;2002OnNovember18,2005,5yuanbanknotesand5dimecoinswereissued;onJuly30,2004,1yuanbanknoteswereissued.OnAugust1,2015,thePeople'sBankofChinaannouncedthatitwouldissuethefifthsetofRMB100banknotesinthe2015editiononNovember12,2015.
CoinMuseum
Foundedin1992,theChinaCoinMuseumisanational-levelcoinmuseumdirectlyundertheheadquarterofthePeople’sBankofChina.ItiscurrentlylocatedatNo.17,XijiaominAlley,XichengDistrict,BeijingThehospital,includingtheformerBeiyangInsuranceCommercialBankandtheformerCentralBankBeipingBranch,isanationalheritagepreservationbuildingandaphysicaltestimonytothedevelopmentofChina’smodernfinancialindustry.
Adheringtothepurposeofservingthecentralbankandservingthesociety,theChinaNumismaticMuseumadherestothepromotionofcurrencycultureasitsmission.Itismainlyengagedinthecollection,displayandresearchofancientandmoderncurrencyandbankinghistory-relatedobjects.ItistheChineseNumismaticSociety,ChinaNumismaticsandBankingMuseumCommitteeisanaffiliatedunit,andisalsoamajormemberoftheInternationalNumismaticsCommitteeandagoverningunitoftheInternationalNumismaticsandBankingMuseumsCommittee(ICOMON).
Themuseumhasawealthofcollections,andhassuccessfullyheldsuchinfluentialexhibitionsas"AncientChineseMoney-makingCraftsmanshipExhibition","Anti-CounterfeitCurrencyExhibition",and"RedRegimeCurrencyExhibition".Thelibrary"ChineseCoins"isawell-knownpublicationathomeandabroad,whichhasawiderangeofinfluenceintheindustry.The"AncientChineseSilverIngotCastingProcess"and"AncientChineseCoin-castingProcessResearch"conductedbythemuseumhaveachievedfruitfulresultsandwonthefirstandsecondprizesofNationalBankingTechnologyDevelopmentrespectively.
LegalPositioning
ThelegalstatusofthePeople’sBankofChinausuallydependsontherelationshipbetweenthecentralbankandstateauthorities,therelationshipbetweenthecentralbankandthegovernmentanditsdepartments,andtherelationshipbetweenthecentralbankandordinarybanks.Threeaspectsoftherelationshiparereflected.The"People'sBankofChinaLaw"clearlystipulatesthenatureandlegalstatusoftheCentralBankofChina:
1.ThePeople'sBankofChinaisthecentralbankofthePeople'sRepublicofChina.UndertheleadershipoftheStateCouncil,thePeople'sBankofChinaformulatesandimplementsmonetarypoliciestopreventanddefusefinancialrisksandmaintainfinancialstability.
2.ThePeople'sBankofChinashallsubmitaworkreportonmonetarypolicyandfinancialsupervisiontotheStandingCommitteeoftheNationalPeople'sCongress.
3.DecisionsmadebythePeople'sBankofChinaonannualmoneysupply,interestrates,exchangeratesandotherimportantmattersstipulatedbytheStateCouncilshallbeimplementedafterbeingapprovedbytheStateCouncil.AfterthePeople'sBankofChinamakesdecisionsonothermonetarypolicymatters,theywillbeimplementedandreportedtotheStateCouncilfortherecord.
4.UndertheleadershipoftheStateCouncil,thePeople'sBankofChinaindependentlyimplementsmonetarypolicy,performsitsduties,andconductsbusiness.Itisrelativelyindependentfrominterferencebylocalgovernments,governmentdepartmentsatalllevels,socialorganizations,andindividuals.
5.ThePeople'sBankofChinaimplementsthegovernorresponsibilitysystem.ThecandidateforthepresidentisnominatedbythePremieroftheStateCouncilanddecidedbytheChinesePeople’sCongress;duringtheperiodoftheChinesePeople’sCongress,theStandingCommitteeoftheChinesePeople’sCongressshalldecideontheappointmentandremovalofthePresidentofthePeople’sRepublicofChina;thevicepresidentshallbeappointedandremovedbythePremieroftheStateCouncil.
6.ThePeople'sBankofChinaimplementsanindependentfinancialbudgetmanagementsystem.However,laws,administrativeregulations,andthestate'sunifiedfinancialandaccountingsystemshouldbeimplemented,andauditsandsupervisioncarriedoutbytheStateCouncil'sauditingagencyandthefinancialdepartmentshouldbeacceptedseparatelyinaccordancewiththelaw.
TheCentralBankLawstipulatesthatthePeople'sBankofChinashallsupervise,manageandgiveguidancetobankingbusiness.AccordingtothePeople'sBankofChinaLaw,thePeople'sBankofChinamustmanagethetotalamountofcurrencyincirculationandmaintainthenormaloperationofthepayment,clearingandsettlementsystem.
Mainleaders
Currentleaders
YiGang:DeputyDirectoroftheOfficeoftheCentralFinanceandEconomicsLeadingGroup,DeputySecretaryofthePartyCommitteeandGovernorofthePeople’sBankofChina
GuoShuqing:SecretaryandChairmanofthePartyCommitteeoftheChinaBankingandInsuranceRegulatoryCommission,andconcurrentlySecretaryofthePartyCommitteeandDeputyGovernorofthePeople'sBankofChina
ChenYulu:MemberofthePartyCommitteeandViceGovernorofthePeople'sBankofChina
PanGongsheng:MemberofthePartyCommitteeandVicePresidentofthePeople'sBankofChina,SecretaryofthePartyLeadershipGroupandDirectoroftheStateAdministrationofForeignExchange
FanYifei:MemberofthePartyCommitteeandVicePresidentofthePeople'sBankofChina
LiuGuiping:ChinaMemberofthePeople’sBankPartyCommitteeandVicePresident
XuJiaai:LeaderoftheDisciplinaryInspectionTeamoftheCentralCommissionforDisciplineInspectioninthePeople’sBankofChina,MemberofthePartyCommitteeofthePeople’sBankofChina
LiuGuoqiang:VicePresidentofthePeople’sBankofChina,PartyCommitteeMember
LiBo:DeputyGovernorofthePeople’sBankofChina,PartyCommitteeMember
PreviousPresidents
Name | Termofoffice |
NanhanChen | October1949-October1954 |
CaoJuru | November1954-October1964 |
HuLijiao | October1964-May1973 |
ChenXiyu | May1973-January1978 |
LiBaohua | May1978-May1982 |
LuPeijian | May1982-1985March |
ChenMuhua | March1985-April1988 |
LiGuixian | April1988-July1993 |
ZhuRongji | July1993-June1995 |
DaiXianglong | June1995-December2002 |
ZhouXiaochuan | December2002-March2018 |