Zhōngguó Rénmín Yínháng shì Guówùyuàn xiàshè de zhōngyāng yínháng.
The PBOC is the central bank under the State Council.
Tips
history
Founded 1948 in Shijiazhuang by merging three Communist-controlled banks; became the sole central bank of the PRC in 1949. From 1949 to 1978 it functioned as both central bank and sole commercial bank — only in 1983 was its role narrowed to pure central banking.
culture
Name printed on every RMB banknote — the very first thing you see on the 100元 bill. Commonly abbreviated 央行 (central bank) or 人行 in financial press.
