Article 1 This Law is formulated with a view to establishing the status of the People's Bank of China, clarifying its responsibilities, ensuring the correct formulation and implementation of the national monetary policy, establishing and improving the macro-control system of the central bank, and maintaining financial stability.
Article 2 The People's Bank of China is the central bank of People's Republic of China (PRC).
The People's Bank of China, under the leadership of the State Council, formulated and implemented monetary policies to prevent and resolve financial risks and maintain financial stability.
Article 3 The goal of monetary policy is to keep the currency stable, thus promoting economic growth.
Article 4 The People's Bank of China shall perform the following duties:
(1) To issue orders and regulations related to the performance of duties;
(2) Formulating and implementing monetary policies according to law; (3) Issuing RMB and managing its circulation;
(4) Supervise and manage the interbank lending market and the interbank bond market.
(five) the implementation of foreign exchange management, supervision and management of inter-bank foreign exchange market;
(six) supervision and management of the gold market;
(7) Holding, managing and operating the national foreign exchange reserves and gold reserves;
(8) Managing the national treasury;
(nine) to maintain the normal operation of the payment and settlement system;
(ten) to guide and deploy the anti-money laundering work in the financial industry and be responsible for monitoring the anti-money laundering funds;
(eleven) responsible for the statistics, investigation, analysis and forecast of the financial industry;
(twelve) as the central bank of the country, engaged in relevant international financial activities;
(thirteen) other duties stipulated by the State Council.
In order to implement monetary policy, the People's Bank of China may engage in financial business activities in accordance with the relevant provisions of Chapter IV of this Law.
Article 5 The People's Bank of China shall decide on the annual money supply, interest rate, exchange rate and other important matters stipulated by the State Council, which shall be implemented after being submitted to the State Council for approval.
The People's Bank of China shall, after making a decision on other monetary policy matters other than those specified in the preceding paragraph, implement it and report it to the State Council for the record.
Article 6 The People's Bank of China shall submit a work report on monetary policy and the operation of the financial industry to the NPC Standing Committee.
Article 7 The People's Bank of China, under the leadership of the State Council, independently implements monetary policies, performs its duties and conducts its business without interference from local governments, government departments at all levels, social organizations and individuals.
Article 8 All the capital of the People's Bank of China is contributed by the state and belongs to the state.
Article 9 the State Council shall establish a coordination mechanism for financial supervision and management, and the specific measures shall be formulated by the State Council.
Chapter II Organizational Structure
Article 10 The People's Bank of China shall have one president and several deputy presidents.
The candidate for the governor of the People's Bank of China shall be decided by the National People's Congress upon the nomination of Premier the State Council; When the National People's Congress is not in session, it shall be decided by the NPC Standing Committee and appointed and removed by the people of China and president. Vice President of China People's Bank is appointed and removed by Premier the State Council.
Article 11 The People's Bank of China implements the president responsibility system. The President leads the work of the People's Bank of China, and the Vice President assists the President.
Article 12 The People's Bank of China shall set up a monetary policy committee. The responsibilities, composition and working procedures of the Monetary Policy Committee shall be formulated by the State Council and reported to the NPC Standing Committee for the record.
The Monetary Policy Committee of the People's Bank of China should play an important role in the national macro-control and the formulation and adjustment of monetary policy.
Article 13 The People's Bank of China shall set up branches as the dispatched offices of the People's Bank of China according to the needs of performing its duties. The People's Bank of China shall exercise unified leadership and management over its branches.
The branches of the People's Bank of China shall, under the authorization of the People's Bank of China, maintain the financial stability of their respective jurisdictions and undertake related businesses.
Article 14 The governor, deputy governors and other staff members of the People's Bank of China shall fulfill their duties, and shall not abuse their powers, engage in malpractices for personal gain, or hold part-time jobs in financial institutions, enterprises or foundations.
Article 15 The governor, deputy governors and other staff members of the People's Bank of China shall keep state secrets according to law, and have the responsibility to keep secrets for financial institutions and relevant parties when performing their duties.
Chapter III Renminbi
Article 16 The legal tender of People's Republic of China (PRC) is RMB. No unit or individual may refuse to pay all public or private debts in People's Republic of China (PRC) in RMB.
Article 17 The unit of RMB is Yuan, and the monetary unit of RMB is jiao and fen.
Article 18 Renminbi shall be uniformly printed and issued by the People's Bank of China.
When issuing a new version of RMB, the People's Bank of China shall announce the issuing time, denomination, pattern, style and specifications.
Article 19 It is forbidden to forge or alter RMB. It is forbidden to buy or sell forged or altered RMB. It is forbidden to transport, hold or use forged or altered RMB. Deliberate damage to RMB is prohibited. It is prohibited to illegally use RMB designs in publicity materials, publications or other commodities.