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People's Bank of China (PBOC) (中国人民银行)
Practical Law UK Glossary 9-524-1373 (Approx. 4 pages)
Glossary
People's Bank of China (PBOC) (中国人民银行)
As China's central bank, the PBOC's major functions include:
- Formulating and implementing monetary policy and maintaining national financial stability.
- Issuing renminbi (RMB), regulating RMB exchange rate and administering RMB circulation.
- Regulating financial markets, including the inter-bank lending and bond markets.
- Administering anti-money laundering legislation.
(See PBOC website.)