Brill’s Encyclopedia of China

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(2,447 words)

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 institution…

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Fischer, Doris and Schüller, Margot, “Banking”, in: Brill’s Encyclopedia of China, Managing Editor English Edition: Daniel Leese. Consulted online on 26 February 2024 <>
First published online: 2008
First print edition: ISBN: 9789004168633, 20121018

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