Regulations on the Monetary Policy Committee of the People's Bank of China (Revised in 2024)
Regulations on the Monetary Policy Committee of the People's Bank of China (Revised in 2024)
Regulations on the Monetary Policy Committee of the People's Bank of China (Revised in 2024)
Order of the State Council of the People's Republic of China No. 771
January 13, 2024
(Promulgated by Order of the State Council of the People's Republic of China No. 215 on April 15, 1997; and revised in accordance with the Decision of the State Council on Revising Some Administrative Regulations and Decisions of the State Council on January 13, 2024)
Chapter I General Provisions
Article 1 These Regulations are formulated in accordance with the provisions of the Law on the People's Bank of China with a view to helping the correct formulation of national monetary policies.
Article 2 The Monetary Policy Committee shall adhere to the leadership of the Communist Party of China (CPC) in its work, promote the establishment of a modern monetary policy framework, and report important matters to the CPC Central Committee and the State Council.
Article 3 The Monetary Policy Committee shall be the advisory body of the People's Bank of China (PBC) in the formulation of monetary policy.
The Monetary Policy Committee shall be formed pursuant to these Regulations.
Article 4 The duties of the Monetary Policy Committee are to discuss the following monetary policy matters and give proposals based on the comprehensive analysis of the macroeconomic situation and in accordance with the macroeconomic regulation goals of the state:
(1) formulation and adjustment of monetary policies;
(2) monetary policy control goals within a specified period;
(3) application of monetary policy tools;
(4) important measures concerning monetary policy; and
(5) coordination between monetary policy and other macroeconomic policies.
Article 5 The Monetary Policy Committee shall perform its duties through its plenary meeting.
Chapter II Organizational Structure
Article 6 The Monetary Policy Committee shall be composed of the following entities and individuals:
Governor of the People's Bank of China;
one Deputy Secretary General of the State Council;
one Vice Chairman of National Development and Reform Commission;
one Vice Minister of Ministry of Finance;
two Deputy Governors of the People’s Bank of China;
Minister of the National Financial Regulatory Administration;
Chairman of China Securities Regulatory Commission;
Commissioner of the National Bureau of Statistics;
Administrator of the State Administration of Foreign Exchange;
Chairman of China Banking Association;
three expert committee members
Adjustment to the entities and individuals of which the Monetary Policy Committee is composed shall be determined by the State Council.
Article 7 The Monetary Policy Committee shall include ex officio members and nominee members.
......
Order of the State Council of the People's Republic of China No. 771
January 13, 2024
(Promulgated by Order of the State Council of the People's Republic of China No. 215 on April 15, 1997; and revised in accordance with the Decision of the State Council on Revising Some Administrative Regulations and Decisions of the State Council on January 13, 2024)
Chapter I General Provisions
Article 1 These Regulations are formulated in accordance with the provisions of the Law on the People's Bank of China with a view to helping the correct formulation of national monetary policies.
Article 2 The Monetary Policy Committee shall adhere to the leadership of the Communist Party of China (CPC) in its work, promote the establishment of a modern monetary policy framework, and report important matters to the CPC Central Committee and the State Council.
Article 3 The Monetary Policy Committee shall be the advisory body of the People's Bank of China (PBC) in the formulation of monetary policy.
The Monetary Policy Committee shall be formed pursuant to these Regulations.
Article 4 The duties of the Monetary Policy Committee are to discuss the following monetary policy matters and give proposals based on the comprehensive analysis of the macroeconomic situation and in accordance with the macroeconomic regulation goals of the state:
(1) formulation and adjustment of monetary policies;
(2) monetary policy control goals within a specified period;
(3) application of monetary policy tools;
(4) important measures concerning monetary policy; and
(5) coordination between monetary policy and other macroeconomic policies.
Article 5 The Monetary Policy Committee shall perform its duties through its plenary meeting.
Chapter II Organizational Structure
Article 6 The Monetary Policy Committee shall be composed of the following entities and individuals:
Governor of the People's Bank of China;
one Deputy Secretary General of the State Council;
one Vice Chairman of National Development and Reform Commission;
one Vice Minister of Ministry of Finance;
two Deputy Governors of the People’s Bank of China;
Minister of the National Financial Regulatory Administration;
Chairman of China Securities Regulatory Commission;
Commissioner of the National Bureau of Statistics;
Administrator of the State Administration of Foreign Exchange;
Chairman of China Banking Association;
three expert committee members
Adjustment to the entities and individuals of which the Monetary Policy Committee is composed shall be determined by the State Council.
Article 7 The Monetary Policy Committee shall include ex officio members and nominee members.
......