People's Bank of China

| mon = Дундад Улсын Ардын Банк | order = st | s2 = 人民银行 | t2 = 人民銀行 | p2 = Rénmín Yínháng | l2 = People Bank | c3 = 央行 | p3 = Yāngháng | l3 = Central Bank | j = Zung¹gwok³ Jan⁴man⁴
Ngan⁴hong⁴ | altname = | wylie = Krung go mi dmangs
Mi rnams Dngul khang | uly = Junggo Xelq Banka | usy = Җуңго Хәлқ Банка | gr = Jonggwo Renming Ynharng | w = Chung¹kuo² Jen²ming²
yin²hang² | y = Jūnggwok Yàhnmàhn Ngàhnhòhng | w2 = Jen²ming² yin²hang² | j2 = Jan⁴man⁴ ngan⁴hong⁴ | y2 = Yàhnmàhn Ngàhnhòhng | gr2 = Renmin Ynharng | bpmf2 = ㄖㄣˊㄇㄧㄣˊ ㄧㄣˊㄏㄤˊ | bpmf = ㄓㄨㄥㄍㄨㄛˊ ㄖㄣˊㄇㄧㄣˊ ㄧㄣˊㄏㄤˊ | myr2 = Ren²min² yin²hang² | myr = Jung¹gwo² ren²min² yin²hang² | monr = Dundad Ulsyn Ardyn Bank | w3 = Yang¹hang² | y3 = Yēunghòhng | j3 = Joeng¹hong⁴ | gr3 = IangHarng | myr3 = Yang¹hang² | por = Banco Popular da 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 People's Bank Law and the Commercial Bank Law.

The PBC was established in 1948 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. The PBC was extensively reformed during the 1990s, when its provincial and local branches were abolished, instead opening nine regional branches. In 2023, these reforms were reversed as when the regional branches were abolished and the provincial branches restored, and new arrangements essentially ended the PBC's longstanding role in financial supervision.

The PBC is the 25th-ranked of 26 ministerial-level departments of the State Council. The PBC lacks central bank independence and is required to implement the policies of the Chinese Communist Party (CCP) under the direction of the party's Central Financial Commission. The PBC is led by a Governor assisted by several Deputy Governors and a CCP Committee Secretary. Since 2023, the roles of Governor and CCP Committee Secretary have been held jointly by Pan Gongsheng. Provided by Wikipedia