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PBOC Reinstates Provincial Branch System - Herald

CHINA PRESS

China has reinstated the People’s Bank of China provincial branch system to manage activities such as currency issuance, treasury management, maintaining financial stability and anti-money laundering. Announced at the Two Sessions meeting in Beijing, analysts cited by 21st Century Herald said the reforms would help better coordinate policy with local governments, enhance the monetary transmission mechanism, and support financial services for the real economy. The previous PBOC city and county branch system would be scrapped, according to the paper.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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