People’s Bank of China (PBOC)
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People’s Bank of China (PBOC)

People’s Bank of China (PBOC)
People’s Bank of China (PBOC)
The People’s Bank of China (PBOC) is the central bank of mainland China. It is responsible for carrying out monetary policy and regulation of financial institutions, including setting interest rates.
Industry
Banking
Website
pbc.gov.cn
Headquarters address
No. 32, Financial Street, Xicheng District, Beijing 100820, China
Year founded
1948
last updated:
30 September, 2024
China has launched a campaign to inject new dynamism into the economy by integrating AI into traditional industries. Image: Shutterstock
Banking & finance

China needs to harness the power of AI to transform its finance sector, former central banker says

The call comes amid a Chinese government drive to revitalise the economy by cultivating “new quality productive forces”.

US-China relations

US-China working groups on economy, finance meet as future in doubt under Trump

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China’s economic stimulus

China makes space for private sector, vows spending to boost demand

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China economy

Opinion | 3 challenges for China’s economic growth in 2025

The economy may be turning a corner but the property-sector crisis, local government debt and Trump’s return cloud the outlook.

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Workers pour molten steel at a factory which produces vehicle crankshafts for both the domestic market and export, in Binzhou, in eastern Shandong province, on December 10. Photo: AFP
China's economic recovery

‘Strong tone’ from China’s Politburo suggests more fiscal spending: analysts

After Monday’s Politburo meeting, analysts predicted China will raise fiscal spending and cut rates to keep up activity through next year.

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China’s economic stimulus

‘Supportive’ monetary policy pledged in glimpse of China’s 2025 economic plan

People’s Bank of China governor Pan Gongsheng pledges to ensure adequate liquidity and lower overall financing costs for businesses and households.

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Banking & finance

Time right for China to cut reserve ratio to add liquidity, aid growth: analysts

Analysts say the window for the People’s Bank of China to reduce the reserve requirement ratio (RRR) is open.

A bank employee counting yuan notes at a bank counter in Nanjing, in China’s eastern Jiangsu province. Photo: AFP
China’s economic stimulus

China’s tech firms at the front of the queue for loans amid policy tilt

People’s Bank of China asks government ministries and major banks to accelerate loans to tech companies.

Banking & finance

Citigroup CEO meets Chinese officials as Beijing touts financial market reforms

Fraser said the Wall Street bank will ‘further its participation in the market to help promote US-China economic ties and trade’.

Yuan

China sets yuan fix to 14-month low as Trump win piles on the pressure

Yuan’s midpoint rate falls to 14-month low as Trump’s election throws most currencies other than the US dollar into uncharted waters.

Most currencies, particularly China’s yuan, are facing depreciation pressures as Donald Trump’s reelection has generated uncertainty over the future of global trade. Photo: Getty Images
China’s economic stimulus

China eyes lift in ‘intensity, accuracy’ of monetary policies amid credit uptick

People’s Bank of China pledges to serve the real economy, while October’s credit data shows a slight improvement.

A Chinese bank teller counting yuan notes at a bank in Shanghai. Photo: AFP
US-China relations

Yellen and China central banker discuss financial monitoring, money laundering

US treasury secretary’s meeting in Washington follows talks last week with China’s vice-minister of finance Liao Min.

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China's economic recovery

China’s central bank holds steady with 200 billion yuan net bond purchase

Consistency of bond purchase, kept at the same level as previous month, seen as key gauge of China’s monetary and fiscal policy coordination.

Banking & finance

After years of ‘going global’, why are Chinese investment banks turning inward?

Exercising caution, China’s investment firms are scaling back their global ambitions and expanding through mergers instead.

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Illustration: Henry Wong
China’s economic stimulus

Explainer | China’s stimulus salvo enters second month: our overview, and what comes next

After one month of rapid-fire economic stimulus, we look at China’s plan of action and survey what might be in the pipeline.

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A raft of economic stimulus measures adopted by China over the past month has sent ripples through the country’s markets, and triggered speculation over what might come next. Photo: Xinhua
Banking & finance

Multi-country digital currency platform is worth the effort: central bankers

‘We must reduce new cross-border payment frictions while removing existing ones,’ says PBOC deputy governor.

China’s economic stimulus

First swap operation by China’s central bank comes quickly to boost stock market

Swap facility lets brokers, asset managers and insurance companies exchange assets with poorer liquidity, enabling them to get liquid assets for stock purchases.

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China’s economic stimulus

Explainer | China’s economic stimulus efforts gather pace in busy week

President, premier and central bank chief among those dispensing clues to the next developments in China’s economic stimulus.

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People walk past the People’s Bank of China headquarters in Beijing on Saturday. Photo: AFP
China's economic recovery

‘Encouraging sign’ as China cuts mortgage rate, but heavy lifting still needed

Five-year loan prime rate lowered from 3.85 per cent to 3.6 per cent, the People’s Bank of China said on Monday.

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Banking & finance

China regulators go on charm offensive as economic growth stalls

CSRC Chairman Wu Qing solicited feedback from financial specialists and media representatives, according to a readout on the watchdog agency’s website.

China stock market

China’s US$42 billion relending scheme boosts stock market

Twenty-one banks to extend loans for stock buy-backs and stake hikes as the part of the 300 billion yuan scheme unveiled late last month.

The 300 billion yuan relending programme is one of the two new financial facilities worth a combined 800 billion yuan unveiled by PBOC governor Pan Gongsheng late last month as part of efforts to shore up China’s US$9.6 trillion onshore stock market. Photo: Reuters
China’s economic stimulus

China’s central bank to cut reserve ratio, bolster property and capital market

People’s Bank of China governor Pan Gongsheng spoke at the Financial Street Forum in Beijing on Friday.

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Pan Gongsheng, governor of the People’s Bank of China, speak during the Financial Street Forum in Beijing on Friday. Photo: Handout
China property

Golden week: China’s property market gets boost from Beijing’s stimulus measures

Strong sales in Shenzhen during the week-long holiday reflect the impact of recent wide-ranging stimulus measures rolled out by Beijing.

China's economic recovery

Explainer | What are the unconventional tools that will bolster China’s stock markets?

People’s Bank of China governor says it is the first time central bank has ‘innovated structural monetary policy tools to support the capital market’.

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China economy

Opinion | China must still bring out the big guns to revitalise its economy

PBOC’s moves are not enough, given the lacklustre economic performance. Beijing should announce large-scale stimulus as soon as possible.

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After a slew of measures from China’s central bank, the ball is in the finance ministry’s court. Photo: Reuters
China economy

The View | China’s latest stimulus measures still don’t go far enough

Mortgage rate cuts and reserve requirement reductions may provide short-term relief but they are no substitutes for boosting domestic demand.

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A woman shops at a supermarket in Beijing, on August 9. To rebalance China’s economy, a greater share of national income must be transferred to the household sector. Photo: EPA-EFE
China's economic recovery

China’s premier urges swift action as stimulus package sets markets ablaze

After last week’s stimulus policies – and subsequent market frenzy – China’s premier has reiterated time is of the essence for fast recovery.

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China property

China’s bazooka offers no quick fix for housing market amid broken confidence

Fitch analyst sees more support measures next quarter to ensure Beijing’s latest stimulus bazooka achieves its aims.

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