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Erschienen in:

2024 | OriginalPaper | Buchkapitel

6. Establishment and Improvement of the Central Banking System

verfasst von : Rixu Lan

Erschienen in: The Financial Development of China

Verlag: Springer Nature Singapore

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Abstract

After the dismantling of the “Gang of Four,” accompanied by the rectification of the economic sector, the financial domain also began to adjust and streamline. The Third Plenary Session of the 11th Central Committee of the Communist Party of China made the decision to shift the focus of work to the economic sector, initiating financial system reforms around the idea of “truly turning banks into banks.” The People’s Bank of China (PBOC) gradually transformed from its dual functions before the era of reform and opening up, strengthening its role as the central bank.

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Vorheriges Kapitel The Tortuous Development of the Financial Industry During the Planned Economy Period

Nächstes Kapitel Reform and Development of the Banking Industry

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The Tianjin branch has jurisdiction over Tianjin, Hebei, Shanxi, and Inner Mongolia; the Shenyang branch has jurisdiction over Heilongjiang, Jilin, and Liaoning; the Shanghai branch has jurisdiction over Shanghai, Zhejiang, and Fujian; the Nanjing branch has jurisdiction over Jiangsu and Anhui; the Jinan branch has jurisdiction over Shandong and Henan; the Wuhan branch has jurisdiction over Jiangxi, Hunan, and Hubei; the Guangzhou branch has jurisdiction over Guangdong, Guangxi, and Hainan; the Chengdu branch has jurisdiction over Sichuan, Guizhou, Yunnan, and Tibet; the Xi’an branch has jurisdiction over Xinjiang, Gansu, Qinghai, Ningxia, and Shaanxi.

M0 refers to the currency in circulation; M1 is M0 plus demand deposits, bank checks, and other deposits that can be easily converted to cash; M2 is M1 plus the balance of money market mutual funds, savings deposits, and small time deposits.

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Deposit reserve is the funds set aside by financial institutions to restrict credit expansion, ensure customer withdrawals, and meet the clearing needs of funds. Reserve fund refers to the amount of funds that commercial banks, in addition to the statutory reserve deposited with the central bank based on a certain percentage of their deposits, need to store in the central bank to meet the requirements for daily business transactions, commonly known as excess reserves.

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Titel: Establishment and Improvement of the Central Banking System
verfasst von: Rixu Lan
Verlag: Springer Nature Singapore
Buch: The Financial Development of China
Print ISBN: 978-981-9782-72-7

Electronic ISBN: 978-981-9782-73-4

Copyright-Jahr: 2024
DOI: https://doi.org/10.1007/978-981-97-8273-4_6