Which Chinese institution is the central bank of the People's Republic of China?

The People's Bank of China is the central bank of the People's Republic of China.

The PBOC was established in 1948, before the founding of the People's Republic of China in 1949. It initially performed many functions that later became separated among specialized commercial and policy institutions.

Today, the PBOC conducts monetary policy, regulates the supply of renminbi currency, manages official foreign-exchange reserves, and supports financial stability. It is headquartered in Beijing and operates under the State Council. China’s State Administration of Foreign Exchange operates under the PBOC and handles foreign-exchange administration.

The Bank of China is a separate commercial bank, despite its similar name and important role in international banking. China also has other large state-owned commercial banks, including China Construction Bank and the Industrial and Commercial Bank of China.