People’s Bank of China

Overview

The People's Bank of China (中国人民银行) is the central bank of the People's Republic of China responsible for carrying out monetary policy and regulation of financial institutions in mainland China, as determined by People's Bank Law and Commercial Bank Law. It is a cabinet-level executive department of the State Council.

While operating with some degree of autonomy, the PBC lacks central bank independence and is politically required to implement the policies of the Chinese Communist Party.