TOPIC

/ company

People’s Bank of China (PBOC)

The People’s Bank of China (PBOC) is the central bank of mainland China. It is responsible for carrying out monetary policy and regulation of financial institutions, including setting interest rates.

Industry

Banking

Website

pbc.gov.cn

Headquarters address

No. 32, Financial Street, Xicheng District, Beijing 100820, China

Year founded

1948

China inflation

China prices pick up, Venezuela raid fallout, Carney visit

This week: China inflation hits highest since February 2023, US abduction of Venezuela’s Maduro spurs criticism, Meta-Manus deal draws scrutiny. Next week: Canada’s Carney visits China, December trade figures come out, Jimmy Lai returns to court in Hong Kong and more.

9 Jan 2026 - 5:00PM

Banking & finance

China signals flexible use of monetary tools in 2026 to support 5-year plan

7 Jan 2026 - 4:30PMvideocam

Blockchain

Coins in sand: how the UAE draws in the global crypto community

12 Dec 2025 - 9:00AM

Open Questions series

Open Questions | Huang Yiping on AI and stablecoins’ risks and rewards for China

Influential economist says growth in artificial intelligence must protect livelihoods and Chinese central bank’s cryptocurrency caution is warranted.

4 Dec 2025 - 3:28PMvideocam

Cryptocurrency

China’s crypto aversion dampens Hong Kong stablecoin push

The central bank’s latest attack on cryptocurrencies, specifically including stablecoins, is sure to cause concerns in Hong Kong among regulators and potential issuers.

2 Dec 2025 - 5:30PM

China digital currency

Beijing’s crypto warning casts shadow over Hong Kong’s stablecoin ambitions

Hong Kong’s pioneering stablecoin rules have attracted 30 applicants – will Beijing’s latest warning force the city to rethink its ambitions?

1 Dec 2025 - 10:02PM

Banking & finance

China’s PBOC underlines tough stance on virtual currencies like stablecoins

Speculative activities in virtual currencies have resurfaced, PBOC statement warns after multi-department regulatory meeting.

30 Nov 2025 - 7:52PMvideocam

Stablecoins may be exploited for illegal purposes such as fundraising fraud and unauthorised cross-border fund transfers, the People’s Bank of China has warned. Photo: Shutterstock

Mainland China

Gold fever in China

Prices for the precious metal have hit record highs spurred by Chinese retail investors and central bank purchases.

28 Nov 2025 - 11:07AM

Banking & finance

China’s US Treasury holdings edge up as long-term sell-off continues

The slight uptick in August and September comes as concerns mount over US debt and the White House tests the Federal Reserve’s independence.

19 Nov 2025 - 10:08PM

Banking & finance

As China’s central bank projects confidence, are rate cuts on the back burner?

The People’s Bank of China said the economy was on track to hit its annual growth target despite facing a challenging environment.

12 Nov 2025 - 6:00PM

People walk past the People’s Bank of China headquarters in Beijing. The central bank signalled confidence in China meeting its annual growth target in its latest report. Photo: AFP

Yuan

China’s yuan added to aviation settlements in boost to internationalisation

The International Air Transport Association is adding the yuan to the basket of currencies available for payments through its clearing house.

6 Nov 2025 - 4:32PM

Banking & finance

China doubles down on crypto crackdown as central bank vows to expand digital yuan

PBOC chief Pan Gongsheng warns of stablecoin risks, pledges wider e-CNY use and tighter oversight of virtual currencies.

28 Oct 2025 - 3:36AM

Banking & finance

China should step up borrowing to boost domestic demand, economist says

Huang Yiping recommends ‘more aggressive’ macroeconomic policy from central government to aid those affected by property crisis.

27 Oct 2025 - 5:13PMvideocam

US-China trade war

China eyes currency swap with Japan and South Korea amid trade tensions: source

Beijing seeks to strengthen regional financial ties and boost yuan use as US trade pressures weigh on East Asian economies.

22 Oct 2025 - 10:37AMvideocam

Pan Gongsheng, governor of the People’s Bank of China, with his counterparts Kazuo Ueda (Japan) Rhee Chang-yong (South Korea) on the sidelines of the IMG-World annual meetings last week in Washington. Photo: EPA

Yuan

China’s central bank sets yuan at highest rate against US dollar in a year

PBOC sets high midpoint rate for yuan, separately reports slowdown in Chinese credit growth, as expectations rise for a US interest rate cut.

16 Oct 2025 - 6:08PMvideocam

US dollar and Chinese yuan notes. Illustration: Reuters

US-China trade war

China sells US Treasuries, buys gold

Chinese holdings of US government debt fell to US$731 billion in July, trailing Japan and the UK, while gold reserves kept on climbing.

10 Oct 2025 - 11:49AM

Banking & finance

China’s central bank aids gold’s record-setting run with 11-month buying streak

Price of gold breaks benchmarks as uncertainty mounts over US dollar and central banks, including China’s, add to their stockpiles.

8 Oct 2025 - 1:11PM

Banking & finance

HSBC, Standard Chartered complete first yuan repo under new scheme

Under the scheme, all overseas institutional investors in the onshore bond market can remit yuan obtained for offshore use.

29 Sep 2025 - 9:30PM

A view of Standard Chartered Bank and HSBC’s headquarters in Central. Photo: Eugene Lee

Banking & finance

China’s banks face their ‘Japanification moment’, S&P report warns

For China’s central bank, ‘safeguarding growth and social stability will take priority over bank profits’, the report says.

25 Sep 2025 - 5:30PMvideocam

IPO

Chery Auto IPO shows China confidence withstands economic clouds

Demand for shares of China’s largest auto exporter shows that investors are undeterred by risks hovering over the nation’s economy.

23 Sep 2025 - 5:00PM

Banking & finance

China expands ‘circle of friends’ as overseas investors boost domestic assets

With foreign capital helping to add US$3 trillion in value to Chinese equities in 2025, head of central bank affirms ‘self-determined’ monetary policy.

22 Sep 2025 - 7:00PMvideocam

Pan Gongsheng, governor of the People’s Bank of China, affirmed the country’s “self-determined” monetary policy in a press conference on Monday. Photo: Xinhua

Banking & finance

Hong Kong firms tap new Swap Connect rule to hedge yuan rate risks

Henderson Land among firms completing interest-rate swaps based on the onshore loan prime rate, HSBC says.

22 Sep 2025 - 5:07PM

A man walks down a stairway at M+ Museum in West Kowloon Cultural District while Hong Kong’s skyline is seen in reflection on May 28, 2025. Photo: Eugene Lee

Hong Kong economy

Editorial | US rate cut offers Hong Kong relief but uncertainties remain

The city’s property and stock market can expect a boost but much that is affecting the local economy and its outlook is beyond our control.

21 Sep 2025 - 6:45AM

Banking & finance

After Fed cut, moderate easing expected by China’s central bank, supporting yuan

PBOC sets yuan’s midpoint rate at 7.1085 after first US interest rate cut since December.

18 Sep 2025 - 5:53PMvideocam

Ant Group

Alipay, Weixin Pay embrace China’s new cross-border payment system

The official system aims to improve payment convenience for foreign visitors using their countries’ bank cards or e-wallets.

17 Sep 2025 - 8:00PM

An Alipay QR code (left) and a Weixin Pay QR code displayed at a shop in Beijing. Photo: AFP

E-commerce

China-Kazakhstan cross-border e-commerce ties to grow: Freedom Holding CEO

Kazakhstan has been the primary destination for China’s Belt and Road Initiative investments in the first six months of 2025.

11 Sep 2025 - 7:00AM

Freedom Holding founder and CEO Timur Turlov takes part in the 10th Belt & Road Summit held in Hong Kong on Wednesday. Photo: Elson Li

Yuan

China’s yuan rallies with central bank backing as worries mount over US dollar

The People’s Bank of China has nudged the yuan into a stronger position as investor concerns grow over Federal Reserve independence.

6 Sep 2025 - 10:00AMvideocam

China digital currency

China weighs stablecoin risks against global yuan dreams

Policymakers have to balance the potential market risks stemming from a yuan stablecoin against China’s desire to internationalise the yuan and pare reliance on the dollar.

1 Sep 2025 - 3:18PM

Help preserve 120 years of quality journalism.

SUPPORT NOW

People’s Bank of China (PBOC)

China prices pick up, Venezuela raid fallout, Carney visit

This week: China inflation hits highest since February 2023, US abduction of Venezuela’s Maduro spurs criticism, Meta-Manus deal draws scrutiny. Next week: Canada’s Carney visits China, December trade figures come out, Jimmy Lai returns to court in Hong Kong and more.

China signals flexible use of monetary tools in 2026 to support 5-year plan

Coins in sand: how the UAE draws in the global crypto community

.css-sioo19{color:#c79a00;}Open Questions | Huang Yiping on AI and stablecoins’ risks and rewards for China

Influential economist says growth in artificial intelligence must protect livelihoods and Chinese central bank’s cryptocurrency caution is warranted.

China’s crypto aversion dampens Hong Kong stablecoin push

The central bank’s latest attack on cryptocurrencies, specifically including stablecoins, is sure to cause concerns in Hong Kong among regulators and potential issuers.

Beijing’s crypto warning casts shadow over Hong Kong’s stablecoin ambitions

Hong Kong’s pioneering stablecoin rules have attracted 30 applicants – will Beijing’s latest warning force the city to rethink its ambitions?

China’s PBOC underlines tough stance on virtual currencies like stablecoins

Speculative activities in virtual currencies have resurfaced, PBOC statement warns after multi-department regulatory meeting.

Gold fever in China

Prices for the precious metal have hit record highs spurred by Chinese retail investors and central bank purchases.

China’s US Treasury holdings edge up as long-term sell-off continues

The slight uptick in August and September comes as concerns mount over US debt and the White House tests the Federal Reserve’s independence.

As China’s central bank projects confidence, are rate cuts on the back burner?

The People’s Bank of China said the economy was on track to hit its annual growth target despite facing a challenging environment.

China’s yuan added to aviation settlements in boost to internationalisation

The International Air Transport Association is adding the yuan to the basket of currencies available for payments through its clearing house.

China doubles down on crypto crackdown as central bank vows to expand digital yuan

PBOC chief Pan Gongsheng warns of stablecoin risks, pledges wider e-CNY use and tighter oversight of virtual currencies.

China should step up borrowing to boost domestic demand, economist says

Huang Yiping recommends ‘more aggressive’ macroeconomic policy from central government to aid those affected by property crisis.

China eyes currency swap with Japan and South Korea amid trade tensions: source

Beijing seeks to strengthen regional financial ties and boost yuan use as US trade pressures weigh on East Asian economies.

China’s central bank sets yuan at highest rate against US dollar in a year

PBOC sets high midpoint rate for yuan, separately reports slowdown in Chinese credit growth, as expectations rise for a US interest rate cut.

China sells US Treasuries, buys gold

Chinese holdings of US government debt fell to US$731 billion in July, trailing Japan and the UK, while gold reserves kept on climbing.

China’s central bank aids gold’s record-setting run with 11-month buying streak

Price of gold breaks benchmarks as uncertainty mounts over US dollar and central banks, including China’s, add to their stockpiles.

HSBC, Standard Chartered complete first yuan repo under new scheme

Under the scheme, all overseas institutional investors in the onshore bond market can remit yuan obtained for offshore use.

China’s banks face their ‘Japanification moment’, S&P report warns

For China’s central bank, ‘safeguarding growth and social stability will take priority over bank profits’, the report says.

Chery Auto IPO shows China confidence withstands economic clouds

Demand for shares of China’s largest auto exporter shows that investors are undeterred by risks hovering over the nation’s economy.

China expands ‘circle of friends’ as overseas investors boost domestic assets

With foreign capital helping to add US$3 trillion in value to Chinese equities in 2025, head of central bank affirms ‘self-determined’ monetary policy.

Hong Kong firms tap new Swap Connect rule to hedge yuan rate risks

Henderson Land among firms completing interest-rate swaps based on the onshore loan prime rate, HSBC says.

.css-1m2rp1p{color:#34b8b5;}Editorial | US rate cut offers Hong Kong relief but uncertainties remain

The city’s property and stock market can expect a boost but much that is affecting the local economy and its outlook is beyond our control.

After Fed cut, moderate easing expected by China’s central bank, supporting yuan

PBOC sets yuan’s midpoint rate at 7.1085 after first US interest rate cut since December.

Alipay, Weixin Pay embrace China’s new cross-border payment system

The official system aims to improve payment convenience for foreign visitors using their countries’ bank cards or e-wallets.

China-Kazakhstan cross-border e-commerce ties to grow: Freedom Holding CEO

Kazakhstan has been the primary destination for China’s Belt and Road Initiative investments in the first six months of 2025.

China’s yuan rallies with central bank backing as worries mount over US dollar

The People’s Bank of China has nudged the yuan into a stronger position as investor concerns grow over Federal Reserve independence.

China weighs stablecoin risks against global yuan dreams

Policymakers have to balance the potential market risks stemming from a yuan stablecoin against China’s desire to internationalise the yuan and pare reliance on the dollar.

Open Questions | Huang Yiping on AI and stablecoins’ risks and rewards for China

Editorial | US rate cut offers Hong Kong relief but uncertainties remain