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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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China would maintain a moderately loose monetary policy to support economic growth, People's Bank of China (PBOC) reiterated in its second quarter monetary policy report published on Thursday.
The People's Bank of China denied on Thursday that it held discussions with Kyrgyzstan's central bank to make the yuan fully convertible in the central Asian country, Reuters reported.
The People's Bank of China announced the move, which will lock up some 350 billion yuan ($47 billion), on its website.
 
 
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