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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Industrial Bank was established in August of 1988 and is one of the first batch of joint-stock commercial bank approved by China State Council and China People's Bank. According to the banker's report on the Top 1000 banks in the world, Industrial Bank was ranked at No.32 in terms of tier 1 capital and No.33 in terms of total assets, and is among the top 50 banks worldwide.

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