People's Bank of China

Main article: Economy of China

Gold and foreign exchange reserves

Main article: Gold and foreign exchange reserves of China

Currency: Yuan

Main article: Chinese Yuan

• Digital yuan

CIPS - Cross-border interbank payment system

Main article: CIPS - Cross-border interbank payment system

Key rate

2023: Rate cut to 2.5%

On August 15, 2023, the Central Bank of China unexpectedly reduced the key interest rate by the maximum value from 2020 (by 15 bp to 2.5%) to support the economy faced with new risks associated with a worsening decline in the real estate market and weak consumer spending.

History

2023

The sentence to the former top manager is 16.5 years in prison for bribes and disclosing state secrets

On December 28, 2023, it became known that People's Bank of China the former head of the monetary policy department, Sun Guofeng, was sentenced to 16 years and six months in prison for taking bribes and disclosing state secrets. The investigation into the banker was part of a large-scale anti-corruption campaign in the financial industry initiated by the authorities. PEOPLE'S REPUBLIC OF CHINA More. here

In China, a new financial regulator has been created under the control of the Communist Party. The Central Bank has almost no functions left

At the end of December 2023, it became known that the authorities are PEOPLE'S REPUBLIC OF CHINA reducing the role Central Bank (People's Bank of China, PBOC) in the development of solutions and as a link with international markets and regulators. In fact, the Central Bank will be sidelined, while control over all financial activities, except for the securities market, will be exercised by the National Financial Regulation Administration (NAFR). More. here

2021

Sharp growth in investments in shares of foreign companies

The Central Bank of China is actively buying up shares of large British companies, including those that make up the key exchange index FTSE100.

By September 2021, the Central Bank of the PRC owns shares of such companies totaling $17.1 billion, in the second quarter the Chinese Central Bank owned these shares only $2 billion.

The Central Bank is now the owner of a 1.5% stake in BP and Royal Dutch Shell. In the last Central Bank, the PRC is already the fourth largest holder of class A shares.

In addition, the Chinese state-owned bank owns more than 1% in the mobile operator Vodafone and the mining companies BHP and Anglo American.

Also, the Central Bank of China owns shares of companies in a number of other countries, for example, Italy and Malaysia, however, there are no American shares in its portfolio.

Former top executive sentenced to death

In January 2021, former top manager of the Central Bank of China Lai Xiaoming was sentenced to death for corruption. Read more here.