PBC, the central bank of the People’s Republic of China and an administration, under the leadership of the State Council, formulating and implementing monetary policies, supervising and administrating financial industries, mainly in charge of:

1. Formulating and enforcing the monetary policies according to laws;

2. Circulating Renminbi and administrating its circulation;

3. Examination and approval of, supervision and administration over the financial institutes according to regulations;

4. Supervision and administration over the financial market according to regulations;

5. Promulgation of orders and regulations on financial supervision, administration and business;

6. Keeping, managing and operating the state’s reserves of foreign exchange and gold;

7. Management of the treasury;

8. The maintenance of the regular operation of the payment and clearance systems;

9. Statistics and survey, analysis and forecast of the financial industry;

10. Undertaking relevant financial businesses complying with laws;

11. As the central bank of China, undertaking relevant international financial activities;