Brill’s Encyclopedia of China

The balance of payments (BOP) is a value table for all economic transactions conducted within a certain period of time (usually one year) between residents and foreigners (flow figures). It is divided into various balance sheets: The current account records the import and export of goods, services, and unilateral transfers. The capital account lists changes in foreign ownership of domestic assets. The reserve account reflects changes in the central bank's stock of foreign assets (gold, foreign e…

1. People's Republic of China After the founding of the People's Republic, the banking system was transformed into a mono-banking system as part of the process of socialist transformation. At its center stood the People's Bank of China (PBoC) that had been established in 1948 already. Until 1970 the PBoC was subordinate to the State Council and between 1970 and 1978 to the Ministry of Finance. By 1955 all private credit institutions established prior to 1949 were either liquidated or integrated into …

Jing 18 counties 15.81 million inhabitants 16,800 km2 941 inhabitants/km2 Beijing is the national capital of the People's Republic of China and has the status of a directly-controlled municipality . Beijing is not only the seat of the government, the highest CCP organs, the National People's Congress , and the highest state agencies, it is also home to the leading institutions in research and science, all national associations (unions, women organizations, religious organizations), as well as most foreig…