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
Abu Dhabi, the capital of the United Arab Emirates, started regulating cryptocurrencies in 2018. Photo: Shutterstock
Blockchain

Coins in sand: how the UAE draws in the global crypto community

At Abu Dhabi Finance Week, insiders give credit to the UAE’s regulatory infrastructure and institutional adoption of digital assets.

Open Questions series

Open Questions | Huang Yiping on AI and stablecoins’ risks and rewards for China

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Cryptocurrency

China’s crypto aversion dampens Hong Kong stablecoin push

China digital currency

Beijing’s crypto warning casts shadow over Hong Kong’s stablecoin ambitions

Hong Kong’s pioneering stablecoin rules have attracted 30 applicants – will Beijing’s latest warning force the city to rethink its ambitions?

The People’s Bank of China has said stablecoins do not meet the mainland’s requirements on customer identification and anti-money laundering. Photo: Shutterstock
Banking & finance

China’s PBOC underlines tough stance on virtual currencies like stablecoins

Speculative activities in virtual currencies have resurfaced, PBOC statement warns after multi-department regulatory meeting.

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Mainland China

Gold fever in China

Prices for the precious metal have hit record highs spurred by Chinese retail investors and central bank purchases.

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Banking & finance

China’s US Treasury holdings edge up as long-term sell-off continues

The slight uptick in August and September comes as concerns mount over US debt and the White House tests the Federal Reserve’s independence.

Yuan banknote on Chinese flags and US dollar banknote on US flags. Photo: Getty Images/iStockphoto
Banking & finance

As China’s central bank projects confidence, are rate cuts on the back burner?

The People’s Bank of China said the economy was on track to hit its annual growth target despite facing a challenging environment.

Yuan

China’s yuan added to aviation settlements in boost to internationalisation

The International Air Transport Association is adding the yuan to the basket of currencies available for payments through its clearing house.

Banking & finance

China doubles down on crypto crackdown as central bank vows to expand digital yuan

PBOC chief Pan Gongsheng warns of stablecoin risks, pledges wider e-CNY use and tighter oversight of virtual currencies.

Several bitcoins lying on a stack of silver Tether coins. Photo: Shutterstock
Banking & finance

China should step up borrowing to boost domestic demand, economist says

Huang Yiping recommends ‘more aggressive’ macroeconomic policy from central government to aid those affected by property crisis.

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Huang Yiping, a professor at Peking University and dean of its National School of Development, has urged China’s central government to borrow more to lift domestic demand by introducing more supportive fiscal policies. Photo: Dickson Lee
US-China trade war

China eyes currency swap with Japan and South Korea amid trade tensions: source

Beijing seeks to strengthen regional financial ties and boost yuan use as US trade pressures weigh on East Asian economies.

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Yuan

China’s central bank sets yuan at highest rate against US dollar in a year

PBOC sets high midpoint rate for yuan, separately reports slowdown in Chinese credit growth, as expectations rise for a US interest rate cut.

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US-China trade war

China sells US Treasuries, buys gold

Chinese holdings of US government debt fell to US$731 billion in July, trailing Japan and the UK, while gold reserves kept on climbing.

China sells US Treasuries, buys gold
Banking & finance

China’s central bank aids gold’s record-setting run with 11-month buying streak

Price of gold breaks benchmarks as uncertainty mounts over US dollar and central banks, including China’s, add to their stockpiles.

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The price of gold continues to set records as central banks and global investors buy more of the safe-haven asset. Photo: Reuters
Banking & finance

HSBC, Standard Chartered complete first yuan repo under new scheme

Under the scheme, all overseas institutional investors in the onshore bond market can remit yuan obtained for offshore use.

Banking & finance

China’s banks face their ‘Japanification moment’, S&P report warns

For China’s central bank, ‘safeguarding growth and social stability will take priority over bank profits’, the report says.

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IPO

Chery Auto IPO shows China confidence withstands economic clouds

Demand for shares of China’s largest auto exporter shows that investors are undeterred by risks hovering over the nation’s economy.

Photo: EPA-EFE
Banking & finance

China expands ‘circle of friends’ as overseas investors boost domestic assets

With foreign capital helping to add US$3 trillion in value to Chinese equities in 2025, head of central bank affirms ‘self-determined’ monetary policy.

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Banking & finance

Hong Kong firms tap new Swap Connect rule to hedge yuan rate risks

Henderson Land among firms completing interest-rate swaps based on the onshore loan prime rate, HSBC says.

Hong Kong economy

Editorial | US rate cut offers Hong Kong relief but uncertainties remain

The city’s property and stock market can expect a boost but much that is affecting the local economy and its outlook is beyond our control.

US Federal Reserve chairman Jerome Powell listens during a press conference after cutting interest rates for the first time this year, in Washington, US, on September 17. Photo: Reuters
Banking & finance

After Fed cut, moderate easing expected by China’s central bank, supporting yuan

PBOC sets yuan’s midpoint rate at 7.1085 after first US interest rate cut since December.

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Banknotes from the United States and China. Photo: DPA
Ant Group

Alipay, Weixin Pay embrace China’s new cross-border payment system

The official system aims to improve payment convenience for foreign visitors using their countries’ bank cards or e-wallets.

E-commerce

China-Kazakhstan cross-border e-commerce ties to grow: Freedom Holding CEO

Kazakhstan has been the primary destination for China’s Belt and Road Initiative investments in the first six months of 2025.

Yuan

China’s yuan rallies with central bank backing as worries mount over US dollar

The People’s Bank of China has nudged the yuan into a stronger position as investor concerns grow over Federal Reserve independence.

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China’s yuan has rallied against the US dollar in recent days, a change analysts said was primarily driven by central bank policy. Photo: AFP
China digital currency

China weighs stablecoin risks against global yuan dreams

Policymakers have to balance the potential market risks stemming from a yuan stablecoin against China’s desire to internationalise the yuan and pare reliance on the dollar.

Image: Shutterstock
Stablecoins

Ex-PBOC chief Zhou highlights stablecoin risks

Overissuance, market manipulation and speculative trading are among key dangers posed by stablecoins, according to Zhou Xiaochuan.

Banking & finance

Why have stablecoins triggered caution from former China central bank governor?

Zhou Xiaochuan stresses need for vigilance to prevent digital currencies being used for excessive speculation.

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