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The People's Bank of China (officially PBC [3] and unofficially PBOC [4]) is the central bank of the People's Republic of China. [5] It is responsible for carrying out monetary policy as determined by the People's Bank Law and the Commercial Bank Law.
The remarks echoed a Financial Times report on Friday, which cited the central bank as saying that the PBOC is likely to cut interest rates from the current level of 1.5% "at an appropriate time ...
BEIJING (Reuters) -China's central bank on Tuesday unveiled its biggest stimulus since the pandemic to pull the economy out of its deflationary funk and back towards the government's growth target ...
China's foreign exchange reserves are held by People's Bank of China, China's central bank. [3] The total of the reserves is regularly announced by the central bank. In December 2024, China's reserves totalled US $3.202 trillion, which is the highest foreign exchange reserves of any country [4]
China will cut the amount of cash banks need to have on hand, known as the reserve requirement ratio or RRR, by 50 basis points. China central bank releases slate of support measures amid a ...
China's central bank, the People's Bank of China (PBOC), began research on the digital currency in 2014 under the leadership of Governor Zhou Xiaochuan. [9] [2] In 2016, Fan Yifei, a deputy governor of the PBOC, wrote that "the conditions are ripe for digital currencies, which can reduce operating costs, increase efficiency and enable a wide range of new applications". [10]
The new tools allow the central bank to be more proactive and targeted in how it goes about handling monetary policy. During the era of low to zero interest-rates , the PBoC maintained moderate interest rates unlike most other major central banks.
Pan Gongsheng’s appointment comes after he was installed as the Communist Party chief of the PBOC earlier this month, a surprise move that analysts said highlighted Beijing’s urgency to ...