The People's Bank of China
The People's Bank of China (officially PBC and unofficially PBOC) is the central bank of the People's Republic of China. It is responsible for carrying out monetary policy as determined by the PRC People's Bank Law and the PRC Commercial Bank Law.
Institutional profile
Institutional role and background
The People's Bank of China (officially PBC and unofficially PBOC) is the central bank of the People's Republic of China. It is responsible for carrying out monetary policy as determined by the PRC People's Bank Law and the PRC Commercial Bank Law. [3]
The PBC was established in 1948 as the bank serving areas of mainland China under Chinese Communist Party (CCP) control and became China's sole central bank after the founding of the People's Republic of China in 1949. From 1969 to 1978, the PBC was demoted to a bureau of the Ministry of Finance. The PBC was extensively reformed during the 1990s, when its provincial and local branches were abolished, instead opening nine regional branches. In 2023, these reforms were reversed as when the regional branches were abolished and the provincial branches restored, and new arrangements essentially ended the PBC's longstanding role in financial supervision. [3]
The PBC is the 25th-ranked of 26 ministerial-level departments of the State Council. The PBC lacks central bank independence and is required to implement the policies of the CCP under the direction of the party's Central Financial Commission, which is currently led by premier Li Qiang. The PBC is led by a governor assisted by several deputy governors and a CCP Committee Secretary. Since 2023, the roles of governor and CCP Committee Secretary have been held jointly by Pan Gongsheng. [3]
Selected introductory text by Wikipedia contributors — People's Bank of China, under CC BY-SA 4.0. Official facts are cited separately.
Institutional history
Establishment date in the institutional background record. [2]
Source-supported connections
Frequently asked questions
When was The People's Bank of China established?
1948-12-01. See the linked source for the institutional record. [2]
Where is The People's Bank of China headquartered?
Shanghai; Beijing. See the linked source for the institutional record. [2]
The People's Bank of China connection map
Select a node to inspect the relationship and source.
Links retain their source-specific meaning. Award-time affiliations and links to related reading are not claims about current appointments or economic causation.
Sources and review dates
- Reference source ↗
- Wikidata background facts (CC0) ↗
- Wikipedia contributors — People's Bank of China (CC BY-SA 4.0) ↗
Reviewed 23 October 2026. Historical dates and award-time affiliations retain their original context. A review date is not an event date. Background sources are identified separately from official records.