China’s Central Bank is the People’s Bank of China (PBOC). It is the central bank and monetary authority of China, and it oversees all financial activity in mainland China. The PBOC was established in 1948 as a result of restructuring by Chairman Mao Zedong and has since grown to become one of the most influential central banks in the world.
The PBOC works closely with other agencies such as the State Council, National Development & Reform Commission, Ministry of Finance, and Securities Regulatory Commission to ensure that economic policies are implemented effectively throughout mainland China. In addition to its role as a regulator for financial activities within mainland China, it also operates an important foreign exchange market which allows Chinese citizens access to international currencies through currency trading platforms like Alibaba’s Alipay or Tencent’s WeChat Pay.
In terms of cryptocurrency regulation within mainland china, although there have been various attempts at introducing regulations over recent years including banning ICOs and shutting down domestic crypto exchanges due to potential money laundering concerns – recently there have been signs that suggest some leniency towards certain cryptocurrencies may be possible going forward. However so far only Bitcoin appears on any list approved by regulators while Ethereum remains unlisted despite being widely used across many industries outside just finance sector services. With regards digital assets more broadly however open-source blockchain technology still seems welcomed by officials provided projects adhere strictly comply with existing laws concerning business operations such as filing proper registration documents etc..
