From Centrally Planned Economy to Market-Oriented Principles: The People’s Bank of China under Change
The People’s Bank of China (PBC), established on 1 January 1948, is the youngest of the four central banks selected here. This chapter will first review its two-tier relationship under change during China’s market-oriented reform before assessing its crisis management solutions during the GFC.
KeywordsMonetary Policy Central Bank State Council Financial Liberalisation China Security Regulatory Commission
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