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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WHAT EXCHANGE RATE DOES THE PEOPLE'S BANK OF CHINA TARGET?
For his part, the President of the People's Bank of China praised relations between the State of Qatar and the People's Republic of China in all fields, especially financial and investment sectors, referring to his country's attention to developing bilateral relations between the two countries.
The Memorandum of Understanding signed by the Bank of England and the People's Bank of China today represents a key milestone on that journey.
Last Wednesday, the People's Bank of China released a notice that allows non-financial companies to utilize the Yuan held in their companies in China to be extended as loans to its overseas affiliates.
17 April 2013 -- US banking technology firm NCR Corp (NYSE: NCR) said it has been awarded a five-year technology service agreement from People's Bank of China Shanghai Automatic Clearing Centre.
Speaking at the Legislative Yuan, Perng pointed out that the Taipei branch of the Bank of China, which has been designated as the renminbi clearance bank in Taiwan, will sign a currency clearance contract with People's Bank of China, clarifying the scope and rights/obligations for the authorization of renminbi clearance business.
Buying took the upper hand after the People's Bank of China cut its reserve requirement ratio to free more money for lending following recent sluggish economic data in the country, brokers said.
The People's Bank of China said it would allow the yuan to rise or fall 1 per cent from a mid-point every day, effective Monday, compared with its previous 0.
ANKARA, February 21, 2012 - The Central Bank of the Republic of Turkey (CBRT) and People's Bank of China (PBC) signed a bilateral Currency Swap Agreement (CSA).
54 billion), the People's Bank of China said, adding that the deal was effective for three years and would boost two-way trade and investment.
Combined, this confirmation of a softening in price pressure effectively removes a hurdle the People's Bank of China was facing in terms of the freedom to continue to ease monetary policy.
China's central bank, the People's Bank of China, will soon pick an approved Chinese bank in Singapore for that purpose, Singapore Senior Minister Goh Chok Tong was quoted as saying at the end of a nine-day visit to China during which he met with the central bank's governor.

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