August 20, 2014 5:32 PM ET

Diversified Financial Services

Company Overview of The People's Bank of China

Company Overview

The People's Bank of China operates as a central bank. It engages in drafting and enforcing relevant laws, rules, and regulations. The company also formulates and implements the monetary policy in accordance with law, as well as regulates financial markets, including the inter-bank lending market, the inter-bank bond market, and the foreign exchange market and gold market. In addition, it prevents and mitigates systemic financial risks to safeguard financial stability; manages the state treasury; and maintains normal operation of the payment and settlement systems, as well as guides and organizes the anti-money laundering work of the financial sector and monitors relevant fund flows. Further...

No.32 Chengfang Street

Xi Cheng District

Beijing,  100800

China

Founded in 1948

Phone:

86 10 6619 4114

Fax:

86 10 6601 5346

Key Executives for The People's Bank of China

Governor
Age: 66
Chief Disciplinary Officer
Age: 60
Deputy Governor
Deputy Governor
Age: 50
Chief Economist
Compensation as of Fiscal Year 2014.

The People's Bank of China Key Developments

OCBC Bank China Launches People's Bank of China's G2 Payment System

OCBC Bank China declared that it has shifted to the second-generation payment system of the People's Bank of China (PBOC) on July 26, 2014. OCBC Bank announced that the bank is bullish on the Chinese market and will strengthen research and development of service and products, training talents and invest more in operation and technology. The launch of new payment system will improve its overall competitiveness in China.

The Bank of England and People's Bank of China Sign Memorandum of Understanding on Renminbi Clearing and Settlement in London

The Bank of England announced that it has signed a Memorandum of Understanding (MoU) with the People's Bank of China (PBoC) regarding renminbi (RMB) clearing and settlement arrangements in London. This agreement is expected to facilitate the use of renminbi by banks and other companies in international transactions, while supporting global trade and investment. Under the terms of this MoU, the Bank and the PBoC have committed to cooperating over the relevant supervisory arrangements and share relevant information as necessary. A clearing bank is scheduled to be designated in London in due course.

Bank of England and The People's Bank of China Agree to Sign Memorandum of Understanding on London Renminbi Clearing and Settlement Arrangements

The Bank of England and the People's Bank of China (PBoC) have agreed to sign a Memorandum of Understanding (MoU) on renminbi (RMB) clearing and settlement in London. The MoU will be signed in London on 31 March 2014 and will set out the cooperation between the Bank and PBoC relating to the operations of the RMB clearing and settlement service in London.

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