Bank Credit and Financial Markets
China’s financial market has begun to take shape, and various types of financial businesses have been developed, including stocks, bonds and commercial bills. The capital loan and negotiable securitie...
Renminbi and Foreign Exchange Control
China’s official currency, the Renminbi (RMB), is issued and managed by the People’s Bank of China. The currency is denominated in yuan (one yuan equals 10 jiao, and one jiao equals 10 fen). The excha...
Intruduction of Insurance
In 1981, the People’s Insurance Company of China was transformed from an administrative institution into a specialized company. It then established an organizational structure extending from the head ...
Intruduction of Banking & Insurance
After the founding of the PRC, the People’s Bank of China exercised the functions and powers of the central bank, at the same time handling industrial and commercial loans and savings. Therefore, it w...