The People's Bank of China (PBOC) is the central bank of the People's Republic of China. Established in 1948, the bank has its headquarters in Beijing and has branches and sub-branches throughout China.
The PBOC is responsible for implementing monetary policy and issuing the national currency, the renminbi (RMB). It also regulates the country's financial system, manages the country's foreign exchange reserves, and plays a key role in maintaining the stability of the Chinese economy.