The Chine Banking System
As is known to all , we China is a develping country, and with the rapid development of our economy, we have gained so much experience in the system of economy, such as the banking system. And we should make more progress to improve it. The Chine banking system is in the midst of a generational program of reform as it transitions to be more open to and supportive of the emergence of China into the global economic system after decades of communism and state ownership. This program was started in the early 1980s and continues to the prent day. Now I want to talk about some simple things about the chine banking system.
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From the beginning, I should introduce some about the history and reforms of that.
2012年六月四级真题The banking system was centralized early on under the Ministry of Finance, which exercid firm control over all financial rvices, credit, and the money supply. During the 1980s the banking system was expanded and diversified to meet the needs of the reform program, and the scale of banking activity ro sharply. New budgetary procedures require
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d state enterpris to remit to the state only a tax on income and to ek investment funds in the form of bank loans. Between 1979 and 1985, the volume of deposits nearly tripled and the value of bank loans ro by 260 percent. By 1987 the banking system included the People's Bank of China, Agricultural Bank, Bank of China (which handled foreign exchange matters), China Investment Bank, China Industrial and Commercial Bank, People's Construction Bank, Communications Bank, People's Insurance Company of China, rural credit cooperatives, and urban credit cooperatives.
Another financial institution, the Bank of China, handled all dealings in foreign exchange. It was responsible for allocating the country's foreign exchange rerves, arranging foreign loans, tting exchange rates for China's currency, issuing letters of credit, and generally carrying out all financial transactions with foreign firms and individuals. The Bank of China had offices in Beijing致意的意思 and other cities engaged in foreign trade and maintained overas offices in major international financial centers, including Hong Kong, London, New York, Singapore, and Luxembourg.bitch意思
The People's Construction Bank managed state appropriations and loans for capital construction. It checked the activities of loan recipients to ensure that the funds were ud for their designated construction purpo. Money was disburd in stages as a project progresd. The reform policy shifted the main source of investment funding from the government budget to bank loans and incread the responsibility and activities of the People's Construction Bank.
Throughout the history of the People's Republic, the banking system has exerted clo control over financial transactions and the money supply. All government departments, publicly and collectively owned economic units, and social, political, military, and educational organizations were required to hold their financial balances as bank deposits. They were also instructed to keep on hand only enough cash to meet daily expens; all major financial transactions were to be conducted through banks. Payment for goods and rvices exchanged by economic units was accomplished by debiting the account of the purchasing unit and crediting that of the lling unit by the appropriate amount. This practice effectively helped to minimize the need for currency.
In addition, let’s say a little about “Chine Banking Regulation” .
The main national regulatory body that overes the Chine banking system is the China Banking Regulatory Commission (CBRC), which is charged with writing the rules and regulations governing banks in China. The CBRC conducts examinations and oversight of banks, collects and publishes statistics on the banking system, approves the establishment or expansion of banks and resolves potential liquidity, solvency or other problems that might emerge at individual banks.
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The People's Bank of China also has considerable authority over the Chine banking system. Aside from the typical central bank responsibility for monetary policy and reprenting the country in an international forum, the PBC's role is to reduce overall risk and promote stability of the financial system. The PBC also regulates lending and foreign exchange between banks, and supervis the payment and ttlement system of the country.
Finally, we should known some about the structure of China's banking system.
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It is compod by rveral major players as following：
First , Central Bank:The People's Bank of China was the central bank and the foundation of the banking system. PBOC has full autonomy in applying the monetary instruments, including tting interest rate for commercial banks and trading in government bonds. It also maintains the banking ctor's payment, clearing and ttlement systems, and manages official foreign exchange and gold rerves. Meanwhile, It overes the State Administration of Foreign Exchange (SAFE) for tting foreign-exchange policies. China Banking Regulatory Commission (CBRC) was officially launched on April 28, 2003, to take over the supervisory role of the PBOC.vitalizing
Second ,Commercial Banks:More than 100 commercial banks has been established, all of which are profit-oriented.Leading the banks, there are four big state-owned commercial banks, including the Bank of China (BOC), the China Construction Bank (CCB), the Agricultural Bank of China (ABC), and the Industrial and Commercial Bank of China (ICBC).
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Third , The Big Four:The Industrial & Commerce Bank of China (ICBC) is the largest bank in China by total asts, total employees and total customers. ICBC differentiates itlf from the other State Owned Commercial Banks by being 2nd in foreign exchange business and 1st in RMB clearing business. It ud to be the major supplier of funds to China's urban areas and manufacturing ctor.The Bank of China (BOC) specializes in foreign-exchange transactions and trade finance. In 2002, BOC Hong Kong (Holdings) was successfully listed on the Hong Kong Stock Exchange. The USD2.8 billion offering was over-subscribed by 7.5 times. The deal was a significant move in the reform of China’s banking industry. The China Construction Bank (CCB) specializes in medium to long-term credit for long term specialized projects, such as infrastructure projects and urban housing development. The Agriculture Bank of China (ABC) specializes in providing financing to China's agricultural ctor and offers wholesale and retail banking rvices to farmers, township and village enterpris (TVEs) and other rural institutions. All the other commercial banks have adopted a shareholding ownership structure, in which China Minsheng Banking Corp (CMBC), is the only officially recognized private co
mmercial bank at prent.
Four , Policy Banks:Three new "policy" banks-the Agricultural Development Bank of China (ADBC), China Development Bank (CDB), and the Export-Import Bank of China (Chexim) - were established in 1994 to take over the government-directed spending functions of the four state-owned commercial banks. The banks are responsible for financing economic and trade development and state-invested projects.
Five ,Trust and Investment Corporations:
