The People's Bank of China

The People's Bank of China (PBOC) is a banking institution based in Beijing, China. Founded in 1948, the major functions of PBC includes regulating financial markets, including the inter-bank lending market, the inter-bank bond market, foreign exchange market and gold market, preventing and mitigating systemic financial risks to safeguard financial stability, managing the state treasury as fiscal agent, participating in international financial activities at the capacity of the central bank, engaging in financial business operations in line with relevant rules and performing other functions prescribed by the State Council. The board of governors is responsible for the administration of the firm.