金融专业英语 chapter 4 Banking Industry in China.pptx

;;;Chapter 4 Central Bank—PBC;;;Section 4.1 The Reform of PBC;On December 1, 1948, the People’s Bank of China (PBC*) was established. In 1978, China has carried out a series of significant reforms in its banking system, and strengthened its opening to the outside world. In September 1983, the State Council* decided to have the PBC function as a central bank.? In 1984, the People’s Bank of China stopped handling credit and savings business. On March 18, 1995?, people’s Republic of China on the People’s Bank of China adopted.;A central bank or monetary authority is a monopolized and often nationalized institution given privileged control over the production and distribution of money and?credit. ;The first prototypes for modern central banks were the Bank of England and the Swedish Riksbank , which dated back to the 17th century. The Bank of England was the first to acknowledge the role of?lender of last resort. ;The central banking system in the US is known as the Federal Reserve System* (commonly known as “the Fed”), which is composed of 12 regional Federal Reserve Banks located in major cities throughout the country. ;The decisions of the National Financial Work Conference in November 1997 and the Ninth National People’s Congress in March 1998 accelerated the reform of the PBC. Significant restructuring took place at its head office. For example, the supervisory function of regulators has been further strengthened;The goals of the financial structure reform are: to set up a macro-regulatory system of the central bank that implements independently the monetary policy under the leadership of the State Council; to set up the financial organization system that separates the policy finance from the commercial finance, and makes the state-commercial banks principal part with different financial institutions coexisting; and to build a financial market system which is uniform and open, with orderly competition and strict administration.;Clearly define the responsibilitie