People's Bank of China

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People's Bank of China

The central bank of China. It is responsible for setting the country's monetary policy. Until the late 1970s, it was the only legal bank in China and made commercial loans in addition to its duties as the central bank. Since the 1980s, however, this has not been the case, and it no longer makes these loans. It holds more assets than any other central bank. It was established in 1948.
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