People’s Bank of China (PBC)
China’s central bank responsible for monetary policy and issuing the digital yuan.
What is People’s Bank of China (PBC)?
The PBC, established in 1948, oversees China’s financial system, managing currency issuance, interest rates, and reserves, with a key role in piloting the e-CNY since 2014. By 2025, it has expanded e-CNY pilots to over 23 cities, processing transactions worth over RMB 7 trillion, emphasizing two-tier distribution to avoid disintermediation.
In digital assets, the PBC promotes e-CNY as a sovereign CBDC to counter private cryptocurrencies, integrating features like managed anonymity and cross-border trials via mBridge. It established a Shanghai operations center in 2025 to advance e-CNY’s global use, supporting multipolar currency systems.
Related Terms
Gas Cost Complexity
The variable and cumulative transaction fees on blockchains that complicate liquidity provision and trading in DeFi.
Personal Consumption Expenditures (PCE)
A measure of US inflation tracking average price changes in goods and services consumed by households, released monthly by the Bureau of Economic Analysis.
Conversion Ratio (MSTR)
The number of common shares receivable per convertible security upon exercise.
Arbitrage
The practice of buying a digital asset on one exchange and selling it on another to profit from price differences.
Fast Payment Systems
Instant electronic fund transfer systems operating 24/7 for retail transactions.
Variable Interest Rate (Lending)
An interest rate that fluctuates based on lending pool utilization and market conditions.