The People's Bank of China

Data Source: The People's Bank of China

Past Meetings

Rate Description Date Previous % Change % Rate % Statement Minutes
1 Year Prime Rate Tue 20 Dec 2022 3.65 0.00 3.65
5 Year Prime Rate Tue 20 Dec 2022 4.30 0.00 4.30
1 Year Prime Rate Mon 21 Nov 2022 3.65 0.00 3.65
5 Year Prime Rate Mon 21 Nov 2022 4.30 0.00 4.30
1 Year Prime Rate Thu 20 Oct 2022 3.65 0.00 3.65
5 Year Prime Rate Thu 20 Oct 2022 4.30 0.00 4.30
1 Year Prime Rate Tue 20 Sep 2022 3.65 0.00 3.65
5 Year Prime Rate Tue 20 Sep 2022 4.30 0.00 4.30
1 Year Prime Rate Mon 22 Aug 2022 3.70 0.05 3.65
5 Year Prime Rate Mon 22 Aug 2022 4.45 0.15 4.30
1 Year Prime Rate Wed 20 Jul 2022 3.70 0.00 3.70
5 Year Prime Rate Wed 20 Jul 2022 4.45 0.00 4.45
1 Year Prime Rate Mon 20 Jun 2022 3.70 0.00 3.70

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The People's Bank of China - A Central Banking Powerhouse



About The People's Bank of China

The People's Bank of China (PBOC), established in 1948, is the central bank of the People's Republic of China. With its headquarters in Beijing, PBOC is responsible for issuing and regulating the national currency, the Chinese Yuan (CNY), and managing the country's monetary policy.

Over the years, PBOC has evolved into a powerful financial institution with a significant impact on China's economic stability and growth.

Functions and Responsibilities

PBOC plays a crucial role in the Chinese economy by:

  • Controlling money supply and interest rates to manage inflation and economic growth.
  • Supervising and regulating financial institutions, ensuring their stability and adherence to regulations.
  • Managing foreign exchange reserves and exchange rate policies to support international trade.
  • Developing and implementing policies to promote financial stability and prevent financial crises.

Monetary Policy

PBOC formulates and implements monetary policies that aim to achieve a balance between economic growth and price stability. Through open market operations, reserve requirement adjustments, and interest rate changes, PBOC influences the money supply and credit availability in the economy.

By closely monitoring economic indicators, PBOC adapts its policies to respond to changing economic conditions, ensuring sustainable development and mitigating risks.

Financial Innovation and Modernization

PBOC actively promotes financial innovation and technological modernization in China's financial sector. It explores the applications of blockchain, digital currencies, and fintech to enhance efficiency, transparency, and accessibility in financial services.

The development of the Digital Currency Electronic Payment (DCEP) system by PBOC is a notable example of China's advancement in digital currency technology.