《金融专业英语(第2版)》教学课件—04Banking Industry in China

4.1.1 Definition of Central Bank
➢ 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.
➢ 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
Master the
functions of
PBC
2
Understand the reform of PBC
1
Familiar with the instruments of PBC
3 Grasp the transformation of PBC
4
Students will be able to:
4.1.2 Transformation of PBC
➢ 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.
Key Topics
1 Master definition of Central Bank 2 Understand the reform of PBC 3 Master the functions of PBC 4 Know the instruments of PBC 5 Grasp the transformation of PBC 6 Know reserve requirement
Chapter 4 Central Bank—PBC
Section 4.1 The Reform of PBC Section 4.2 The Functions of PBC Section 4.3 The Instruments of Central Bank
Section 4.1 The Reform of PBC
4.1.1 Definition of Central Bank
➢ 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.
➢ For example, the supervisory function of regulators has been further strengthened
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4.1.3 Reform the Current Financial Structure
➢ 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.
金 融 专 业 英语
Part Two
Banking Industry in China
Contents
4
5
6
Central Bank—PBC
Commercial Banks
Supervision of Banking
4 Central
Chapter Bank—PBC
Chapter 4 Central Bank—PBC
4.1.1 Definition of Central Bank 4.1.2 Transformation of PBC 4.1.3 Reform the Current Financial Structure
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.
China adopted.
4.1.1 Definition of Central Bank
➢ 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.