The People's Bank of China (officially PBC and unofficially PBOC) is the central bank of the People's Republic of China. It is responsible for carrying out monetary policy as determined by the PRC People's Bank Law and the PRC Commercial Bank Law. The PBC was established in 1948 as the bank serving areas of mainland China under Chinese Communist Party (CCP) control and became China's sole central bank after the founding of the People's Republic of China in 1949. From 1969 to 1978, the PBC was demoted to a bureau of the Ministry of Finance.
https://en.wikipedia.org/wiki/People%27s_Bank_of_China
The People's Bank of China (officially PBC and unofficially PBOC) is the central bank of the People's Republic of China. It is responsible for carrying out monetary policy as determined by the PRC People's Bank Law and the PRC Commercial Bank Law. The PBC was established in 1948 as the bank serving areas of mainland China under Chinese Communist Party (CCP) control and became China's sole central bank after the founding of the People's Republic of China in 1949. From 1969 to 1978, the PBC was demoted to a bureau of the Ministry of Finance.
