- published: 22 Aug 2012
- views: 53949
China's banking system has undergone significant changes in the last two decades:[when?] banks are now functioning more like banks than before. Nevertheless, China's banking industry has remained in the government's hands even though banks have gained more autonomy. WTO has accepted China. The central bank of the People's Republic of China is the People's Bank of China.
The "big four" state-owned commercial banks are the Bank of China, the China Construction Bank, the Industrial and Commercial Bank of China and the Agricultural Bank of China.
The People's Bank of China (PBOC) is China’s central bank, which formulates and implements monetary policy. The PBOC maintains the banking sector's payment, clearing and settlement systems, and manages official foreign exchange and gold reserves. It oversees the State Administration of Foreign Exchange (SAFE) for setting foreign-exchange policies.
According to the 1995 Central Bank law, PBOC has full autonomy in applying the monetary instruments, including setting interest rate for commercial banks and trading in government bonds. The State Council maintains oversight of PBOC policies.
China (i/ˈtʃaɪnə/; Chinese: 中国; pinyin: Zhōngguó; see also Names of China), officially the People's Republic of China (PRC), is the world's most-populous country, with a population of over 1.3 billion. Covering approximately 9.6 million square kilometres, the East Asian state is the world's second-largest country by land area, and the third- or fourth-largest in total area, depending on the definition of total area.
The People's Republic of China is a single-party state governed by the Communist Party of China. It exercises jurisdiction over 22 provinces, five autonomous regions, four directly controlled municipalities (Beijing, Tianjin, Shanghai, and Chongqing), and two mostly self-governing special administrative regions (Hong Kong and Macau). Its capital city is Beijing. The PRC also claims Taiwan—which is controlled by the Republic of China (ROC), a separate political entity—as its 23rd province, a claim controversial due to the complex political status of Taiwan and the unresolved Chinese Civil War. The PRC government denies the legitimacy of the ROC.
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EP81: JIM RICKARDS – GOLD, BANKING, & CHINA (PART 1 OF 2)
As God's own tears fell to the groundSo did the salt
running down her skin
Her lips are numb and she hears no sound
Still she feels the unborn child within
A name unwritten, a life denied
She never made it to the other side
I'm standing on a hill
I hear a crying wave
Her soul is just the dust on another man's grave
A second child is a child too much, in China
The greater your flock becomes
The more their love surrounds you
A gift received from higher hands
Break down these walls between us for I hear your cries