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The Central Bank of China

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The Central Bank of China

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According to the Central Bank of China Act, the Bank's operational objectives include promoting financial stability, ensuring sound banking operations, maintaining the stable internal and external value of the currency and, within the scope of the above three objectives, fostering economic development. In order to achieve its operational objectives, the Central Bank of China conducts the following operations:

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   Monetary Management
   Treasury Agency Functions
   Currency Issuance
   Clearing and Settlement Services
   Foreign Exchange Management
   Participation in International Organizations
   Statistics and Research
   Bank Examination

History:

In 1923, Dr. Sun Yat-sen, National Father of the Republic of China, promoted the establishment of the Central Bank of China (the Bank) with the primary goal of financing national developments.
The Bank was inaugurated in Canton in the following year. Since then the Bank developed with a vision to be in line with the modern concept of central banking. In December 1949, the Bank relocated with the government from Mainland China to Taipei, and in 1961, resumed its operations there. On November 8, 1979, the newly revised Central Bank of China Act was promulgated. While the Bank has since been under the Executive Yuan (Cabinet), its independent role in making monetary policy has not been changed.

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