People's Bank of China

The People's Bank of China (PBOC) is China's central bank, responsible for managing the country's monetary policy, issuing currency, and maintaining financial stability. It controls money supply, interest rates, and exchange rates to support economic growth and inflation targets. The PBOC also oversees banking regulation and payments systems. Essentially, it acts as China’s financial "brain," making decisions to ensure a stable and healthy economy, similar to how other central banks like the Federal Reserve in the U.S. operate.