Institutional Arrangement

 

Under the leadership of the State Council, the PBC implements monetary policy, performs its functions and carry out business operations independently according to laws and free from intervention by local governments, government departments at various levels, public organizations or any individuals.

The PBC needs to report to the State Council its decisions concerning the annual money supply, interest rates, exchange rates and other important issues specified by the State Council for approval before they are put into effect. The PBC is also obliged to submit work report to the Standing Committee of the National People's Congress on the conduct of monetary policy and the performance of the financial industry.

All capital of the PBC is invested and owned by the State.