Law of the People's Republic of China on the People's Bank of China

　　第一条 为了确立中国人民银行的地位和职责，保证国家货币政策的正确制定和执行，建立和完善中央银行宏观调控体系，加强对金融业的监督管理，制定本法。

Article 1 This Law is enacted in order to define the status and functions of the People's Bank of China, ensure the correct formulation and implementation of the State's monetary policies, establish and perfect a macro-control system through a central bank and strengthen supervision and control over the banking industry.

　　第二条 中国人民银行是中华人民共和国的中央银行。

Article 2 The People's Bank of China is the central bank of the People's Republic of China.

　　中国人民银行在国务院领导下，制定和实施货币政策，对金融业实施监督管理。

The People's Bank of China shall, under the leadership of the State Council, formulate and implement monetary policies and exercise supervision and control over the banking industry.

　　第三条 货币政策目标是保持货币币值的稳定，并以此促进经济增长。

Article 3 The aim of monetary policies shall be to maintain the stability of the value of the currency and thereby promote economic growth.

　　第四条 中国人民银行履行下列职责：

Article 4 The People's Bank of China shall perform the following functions:

　　（一）依法制定和执行货币政策；

(1) to formulate and implement monetary policies in accordance with law;

　　（二）发行人民币，管理人民币流通；

(2)to issue Renminbi(RMB) and control its circulation;

　　（三）按照规定审批、监督管理金融机构；

(3)to examine, grant approval to, supervise and administer banking institutions in accordance with regulations;

　　（四）按照规定监督管理金融市场；

(4)to supervise and control the financial market in accordance with regulations;

　　（五）发布有关金融监督管理和业务的命令和规章；

(5)to promulgate orders, rules and regulations concerning financial supervision and control and business operation;

　　（六）持有、管理、经营国家外汇储备、黄金储备；

(6)to hold,administer and manage the State foreign exchange reserve and gold reserve;

　　（七）经理国库；

(7)to manage the State Treasury;

　　（八）维护支付、清算系统的正常运行；

(8)to maintain the normal operation of the systems for making payments and settling accounts;

　　（九）负责金融业的统计、调查、分析和预测；

(9)to be responsible for statistics, investigation, analysis and forecasting concerning the banking industry;

　　（十）作为国家的中央银行，从事有关的国际金融活动；

(10)to engage in relevant international banking operations in its capacity as the central bank of the State; and

　　（十一）国务院规定的其他职责。

(11)other functions prescribed by the State Council.

　　中国人民银行为执行货币政策，可以依照本法第四章的有关规定从事金融业务活动。

To implement monetary policies, the People's Bank of China may carry out financial operations in accordance with the relevant provisions of Chapter ¢�� this Law.

　　第五条 中国人民银行就年度货币供应量、利率、汇率和国务院规定的其他重要事项作出的决定，报国务院批准后执行。

Article 5 The People's Bank of China shall report its decisions to the State Council for approval concerning the annual money supply, interest rates, foreign exchange rates and other important matters specified by the State Council before they are implemented.

　　中国人民银行就前款规定以外的其他有关货币政策事项作出决定后，即予执行，并报国务院备案。

The People's Bank of China shall immediately implement the decisions on monetary policies for matters other than those specified in the preceding paragraph and report them to the State Council for the record.

　　第六条 中国人民银行应当向全国人民代表大会常务委员会提出有关货币政策情况和金融监督管理情况的工作报告。

Article 6 The People's Bank of China shall submit a work report to the Standing Committee of the National People's Congress concerning matters relating to monetary policies and financial supervision and control.

　　第七条 中国人民银行在国务院领导下依法独立执行货币政策，履行职责，开展业务，不受地方政府、各级政府部门、社会团体和个人的干涉。

Article 7 The People's Bank of China shall, under the leadership of the State Council, implement monetary policies, perform its functions and carry out its business operations independently according to law and be free from intervention by local governments, government departments at various levels, public organizations or individuals.

　　第八条 中国人民银行的全部资本由国家出资，属于国家所有。

Article 8 Al capital of the People's Bank of China is invested by the State and owned by the State.

　　第二章 组织机构

Chapter¢򠏲ganizational Structure

　　第九条 中国人民银行设行长一人，副行长若干人。

Article 9 The People's Bank of China shall have a Governor and a certain number of Deputy Governors.

　　中国人民银行行长的人选，根据国务院总理的提名，由全国人民代表大会决定；全国人民代表大会闭会期间，由全国人民代表大会常务委员会决定，由中华人民共和国主席任免。中国人民银行副行长由国务院总理任免。

The candidate for the Governor of the People's Bank of China shall be nominated by the Premier of the State Council and decided by the National People's Congress; when the National People's Congress is not in session, the Governor shall be decided by the Standing Committee of the National People's Congress and appointed or removed by the President of the People's Republic of China. The Deputy Governors of the People's Bank of China shall be appointed or removed by the Premier of the State Council.

　　第十条 中国人民银行实行行长负责制。行长领导中国人民银行的工作，副行长协助行长工作。

Article 10 The People's Bank of China shall practise a system wherein the Governor shall assume overall responsibility. The Governor shall direct the work of The People's Bank of China, the Deputy Governors shall assist the Governor in his or her work.

　　第十一条 中国人民银行设立货币政策委员会。货币政策委员会的职责、组成和工作程序，由国务院规定，报全国人民代表大会常务委员会备案。

Article 11 The people's Bank of China shall establish a monetary policy committee, whose functions, composition and working procedures shall be prescribed by the State Council and reported to the Standing Committee of the National People's Congress for the record.

　　第十二条 中国人民银行根据履行职责的需要设立分支机构，作为中国人民银行的派出机构。中国人民银行对分支机构实行集中统一领导和管理。

Article 12 The People's Bank of China shall establish branches as its representative organs in light of the need of performing its functions and exercise centralized and unified leadership and administration with respect to its branches.

　　中国人民银行的分支机构根据中国人民银行的授权，负责本辖区的金融监督管理，承办有关业务。

The branches of The People's Bank of China shall, as authorized by The People's Bank of China, be responsible for financial supervision and control and handling of relevant business operations in their respective districts.

　　第十三条 中国人民银行的行长、副行长及其他工作人员应当恪尽职守，不得滥用职权、徇私舞弊，不得在任何金融机构、企业、基金会兼职。

Article 13 The Governor, Deputy Governors and other staff members of The People's Bank of China shall scrupulously abide by their duties; they may not abuse their power or conduct malpractice for private ends and they may not assume concurrent position in any other banking institutions, enterprises or foundations.

　　第十四条 中国人民银行的行长、副行长及其他工作人员，应当依法保守国家秘密，并有责任为其监督管理的金融机构及有关当事人保守秘密。

Article 14 The Governor, Deputy Governors and other staff members of People's Bank of China shall safeguard State secrets according to law and be obligated to safeguard the secrets of the banking institutions and parties concerned under their supervision and control.

　　第十五条 中华人民共和国的法定货币是人民币。

Article 15 The legal tender of The People's Republic of China is the Reminbi(RMB).

以人民币支付中华人民共和国境内的一切公共的和私人的债务，任何单位和个人不得拒收。

When the Renminbi is used to repay all public or private debts within the territory of the People's Republic of China, no units or individuals may refuse to accept it.

　　第十六条 人民币的单位为元，人民币辅币单位为角、分。

Article 16 The unit of the Renminbi is the yuan and the units of the fractional currency of the Renminbi are the jiao and the fen.

　　第十七条 人民币由中国人民银行统一印制、发行。

Article 17 The Renminbi shall be printed and issued solely by the People's Bank of China.

　　中国人民银行发行新版人民币，应当将发行时间、面额、图案、式样、规格予以公告。

When putting forth a new Renminbi issue, The People's Bank of China shall make known to the public the issuing date, face values, designs, patterns and specifications.

　　第十八条 禁止伪造、变造人民币。

Article 18 It is prohibited to counterfeit or alter Renminbi.

禁止出售、购买伪造、变造的人民币。

 It is prohibited to sell or purchase counterfeit or altered Renminbi.

禁止运输、持有、使用伪造、变造的人民币。

It is prohibited to transport, hold or use counterfeit or altered Renminbi.

禁止故意毁损人民币。

It is prohibited to deliberately destroy or damage the Renminbi.

禁止在宣传品、出版物或者其他商品上非法使用人民币图样。

 It is prohibited to illegally use the patterns of Renminbi in propaganda materials, publications or other commodities.

　　第十九条 任何单位和个人不得印制、发售代币票券，以代替人民币在市场上流通。

Article 19 No units or individuals may print or sell promissory notes as substitutes for Renminbi to circulate on the market.

　　第二十条 残缺、污损的人民币，按照中国人民银行的规定兑换，并由中国人民银行负责收回、销毁。

Article 20 The damaged or soiled Renminbi shall be exchanged in accordance with the regulations of The People's Bank of China, which shall also be responsible to recall and destroy such Renminbi.

　　第二十一条 中国人民银行设立人民币发行库，在其分支机构设立分支库。

Article 21 The People's Bank of China shall establish a Renminbi issue treasury and shall establish subsidiary issue treasuries at its branches.

分支库调拨人民币发行基金，应当按照上级库的调拨命令办理。

The subsidiary issue treasuries shall, in allocating Renminbi issue fund, act on the order of allocation from their superior treasury.

任何单位和个人不得违反规定，动用发行基金。

No units or individuals may use the issue fund in violation of regulations.

　　第二十二条 中国人民银行为执行货币政策，可以运用下列货币政策工具：

Article 22 To implement monetary policies, The People's Bank of China may apply the following monetary policy instruments:

　　（一）要求金融机构按照规定的比例交存存款准备金；

(1)to require a banking institution to place a deposit reserve at a prescribed ratio;

　　（二）确定中央银行基准利率；

(2)to fix the base interest rates for the central bank;

　　（三）为在中国人民银行开立帐户的金融机构办理再贴现；

(3)to handle rediscount for baking Institutions that have opened accounts in The People's Bank of China;

　　（四）向商业银行提供贷款；

(4)to provide loans for commercial banks;

　　（五）在公开市场上买卖国债和其他政府债券及外汇；

(5)to deal in State bonds and other government bonds and foreign exchange on the open market; and

　　（六）国务院确定的其他货币政策工具。

(6)other monetary policy instrument decided by the State Council.

　　中国人民银行为执行货币政策，运用前款所列货币政策工具时，可以规定具体的条件和程序。

When applying the monetary policy instruments listed in the preceding paragraph to implement monetary policies, The People's Bank of China may work out specific requirements and procedures.

　　第二十三条 中国人民银行依照法律、行政法规的规定经理国库。

Article 23 The People's Bank of China shall manage the State treasury in accordance with laws and administrative rules and regulations.

　　第二十四条 中国人民银行可以代理国务院财政部门向各金融机构组织发行、兑付国债和其他政府债券。

Article 24 The People's Bank of China may, on behalf of the financial department under the State Council, issue to banking institutions, and honour State bonds and other government bonds.

　　第二十五条 中国人民银行可以根据需要，为金融机构开立帐户，但不得对金融机构的帐户透支。

Article 25 The People's Bank of China may open accounts for banking institution as needed, but may not allow them to overdraw.

　　第二十六条 中国人民银行应当组织或者协助组织金融机构相互之间的清算系统，协调金融机构相互之间的清算事项，提供清算服务。具体办法由中国人民银行规定。

Article 26 The People's Bank of China shall organize or assist in organizing a clearing system among banking institutions, coordinate the efforts of the financial institutions in matters of clearing and provide services in this regard. The specific measures therefor shall be formulated by The People's Bank of China.

　　第二十七条 中国人民银行根据执行货币政策的需要，可以决定对商业银行贷款的数额、期限、利率和方式，但贷款的期限不得超过一年。

Article 27 The People's Bank of China may, as required by the implementation of monetary policies, determine the amounts, term, interest rates and forms of loans extended to commercial banks, however, the maximum term of loans shall not exceed one year.

　　第二十八条 中国人民银行不得对政府财政透支，不得直接认购、包销国债和其他政府债券。

Article 28 The People's Bank of China may not make an overdraft for the government, and may not directly subscribe or underwrite State bonds or other government bonds.

　　第二十九条 中国人民银行不得向地方政府、各级政府部门提供贷款，不得向非银行金融机构以及其他单位和个人提供贷款，但国务院决定中国人民银行可以向特定的非银行金融机构提供贷款的除外。

Article 29 The People's Bank of China may not provide loans to the local governments or government departments at various levels, to non-banking institutions, other units or individuals, with the exception of the specific non-banking institutions as decided by the State Council.

　　中国人民银行不得向任何单位和个人提供担保。

The People's Bank of China may not provide guaranty for any unit or individual.

　　第三十条 中国人民银行依法对金融机构及其业务实施监督管理，维护金融业的合法、稳健运行。

Article 30 The People's Bank of China shall, in accordance with law, exercise supervision and control over banking institutions and their business operations to maintain the legitimate, stable and sound operation of the banking industry.

　　第三十一条 中国人民银行按照规定审批金融机构的设立、变更、终止及其业务范围。

Article 31 The People's Bank of China shall, in accordance with regulations, examine and approve the establishment, modification and termination of banking institutions, as well as the scope of their business operations.

　　第三十二条 中国人民银行有权对金融机构的存款、贷款、结算、呆帐等情况随时进行稽核、检查监督。

Article 32 The People's Bank of China shall have the power to examine, inspect and supervise at any time the deposits, loans, settlements, bad accounts, etc. Of banking institutions.

　　中国人民银行有权对金融机构违反规定提高或者降低存款利率、贷款利率的行为进行检查监督。

The People's Bank of China shall have the power to inspect and supervise banking institutions as to whether they raise or lower the interest rates on deposits or loans in violation of regulations.

　　第三十三条 中国人民银行有权要求金融机构按照规定报送资产负债表、损益表以及其他财务会计报表和资料。

Article 33 The People's Bank of China shall have the power to demand banking institutions to submit according to regulations balance sheets of their assets, statements of profit and loss and other financial and accounting reports and data.

　　第三十四条 中国人民银行负责统一编制全国金融统计数据、报表，并按照国家有关规定予以公布。

Article 34 The People's Bank of China shall be responsible for compiling unified statistics and accounting statements from the national banking system and shall publish them in accordance with relevant regulations of the State.

　　第三十五条 中国人民银行对国家政策性银行的金融业务，进行指导和监督。

Article 35 The People's Bank of China shall guide and supervise the business operations of the policy-oriented banks of the State.

　　第三十六条 中国人民银行应当建立、健全本系统的稽核、检查制度，加强内部的监督管理。

Article 36 The People's Bank of China shall establish and perfect systems for its own examination and inspection and strengthen its own supervision and administration.

　　第六章 财务会计

Chapter¢��nancial Affairs and Accounting

　　第三十七条 中国人民银行实行独立的财务预算管理制度。

Article 37 The People's Bank of China shall exercise independent control over its financial budget.

　　中国人民银行的预算经国务院财政部门审核后，纳入中央预算，接受国务院财政部门的预算执行监督。

The budget of The People's Bank of China shall be incorporated in the central budget after it has been examined and verified by the financial department under the State Council and the implementation thereof shall be subject to supervision of the financial department under the State Council.

　　第三十八条 中国人民银行每一会计年度的收入减除该年度支出，并按照国务院财政部门核定的比例提取总准备金后的净利润，全部上缴中央财政。

Article 38 The People's Bank of China shall, after withdrawing funds for its general reserve at a proportion determined by the financial department under the State Council, turn over to the State treasury the entire net profit remaining from its income in an accounting year minus its expenditures in the same period.

　　中国人民银行的亏损由中央财政拨款弥补。

Losses sustained by The People's Bank of China shall be made up by appropriations from the State treasury.

　　第三十九条 中国人民银行的财务收支和会计事务，应当执行法律、行政法规和国家统一的财务会计制度，接受国务院审计机关和财政部门依法分别进行的审计和监督。

Article 39 The financial receipts and payments and accounting affairs of The People's Bank of China shall be governed by laws, administrative rules and regulations and unified State financial and accounting systems and be subject to the auditing and supervision conducted, in accordance with law, separately by the audit institution and the financial department under the State Council.

　　第四十条 中国人民银行应当于每一会计年度结束后的三个月内，编制资产负债表、损益表和相关的财务会计报表，并编制年度报告，按照国家有关规定予以公布。

Article 40 The People's Bank of China shall, within three months after the end of every accounting year, compile balance sheets of its assets, statements of profit and loss and relevant financial and accounting reports, prepare its annual report and publish them in accordance with relevant regulations of the State.

　　中国人民银行的会计年度自公历１月１日起至１２月３１日止。

The fiscal year of The People's Bank of China begins on the first day of January and ends on the thirty-first day of December of the Gregorian calendar.

　　第四十一条 伪造人民币、出售伪造的人民币或者明知是伪造的人民币而运输的，依法追究刑事责任。

Article 41 Anyone who counterfeits Renminbi or sells counterfeit Renminbi, or knowingly transports counterfeit Renminbi shall be investigated for criminal responsibility in accordance with law.

　　变造人民币、出售变造的人民币或者明知是变造的人民币而运输，构成犯罪的，依法追究刑事责任；情节轻微的，由公安机关处十五日以下拘留、五千元以下罚款。

Anyone who alters Renminbi or sells altered Renminbi or knowingly transports altered Renminbi, if the cases constitutes a crime, shall be investigated for criminal responsibility; if the case is not serious, he shall be put by a public security organ in detention of not more than 15 days and imposed with a fine of not more than 5,000 yuan.

　　第四十二条 购买伪造、变造的人民币或者明知是伪造、变造的人民币而持有、使用，构成犯罪的，依法追究刑事责任；情节轻微的，由公安机关处十五日以下拘留、五千元以下罚款。

Article 42 Anyone who buys counterfeit or altered Renminbi or knowingly holds or uses counterfeit or altered Renminbi, if the case constitutes a crime, shall be investigated for criminal responsibility; if the case is not serious, he shall be put by a public security organ in detention of not more than 15 days and imposed with a fine of not more than 5,000 yuan.

　　第四十三条 在宣传品、出版物或者其他商品上非法使用人民币图样的，中国人民银行应当责令改正，并销毁非法使用的人民币图样，没收违法所得，并处五万元以下罚款。

Article 43 If anyone illegally uses the patterns of Renminbi in propaganda materials, publications or other commodities, the People's Bank of China shall order him to set it right and shall destroy the illegally used patterns of Renminbi, confiscate the illegal gains and impose a fine of not more than 50,000 yuan.

　　第四十四条 印制、发售代币票券，以代替人民币在市场上流通的，中国人民银行应当责令停止违法行为，并处二十万元以下罚款。

Article 44 If anyone prints or sells promissory notes as substitutes for Renminbi to circulate on the market, the People's Bank of China shall order him to cease his illegal act and impose a fine of not more than 200,000 yuan.

　　第四十五条 违反法律、行政法规有关金融监督管理规定的，中国人民银行应当责令停止违法行为，并依法给予行政处罚；构成犯罪的，依法追究刑事责任。

Article 45 If anyone violates the provisions of laws or administrative rules and regulations concerning financial supervision and control, the People's Bank of China shall order him to cease his illegal act and impose on him administrative punishment in accordance with law; if the case constitutes a crime, he shall be investigated for criminal responsibility.

　　第四十六条 当事人对行政处罚不服的，可以依照《中华人民共和国行政诉讼法》的规定提起行政诉讼。

Article 46 If any party refuses to accept the administrative punishment, he may institute an administrative lawsuit in accordance with the Administrative Procedure Law of the People's Bank of China.

　　第四十七条 中国人民银行有下列行为之一的，对负有直接责任的主管人员和其他直接责任人员，依法给予行政处分；构成犯罪的，依法追究刑事责任：

Article 47 If the People's Bank of China commits any of the following acts, the persons directly in charge and other persons directly responsible for the offense shall be subject to administrative sanctions according to law; if the case constitutes a crime, the offenders shall be investigated for criminal responsibility according to law:

　　（一）违反本法第二十九条第一款的规定提供贷款的；

(1)to provide a loan in violation of the provisions in the first paragraph of Article 29;

　　（二）对单位和个人提供担保的；

(2)to provide guaranty for a unit or individual; or

　　（三）擅自动用发行基金的。

(3)to use the issue fund without authorization.

　　有前款所列行为之一，造成损失的，负有直接责任的主管人员和其他直接责任人员应当承担部分或者全部赔偿责任。

If any of the acts specified in the preceding paragraph results in losses, the persons directly in charge and other persons directly responsible for the offense shall be partially or wholly liable for the losses.

　　第四十八条 地方政府、各级政府部门、社会团体和个人强令中国人民银行及其工作人员违反本法第二十九条的规定提供贷款或者担保的，对负有直接责任的主管人员和其他直接责任人员，依法给予行政处分；构成犯罪的，依法追究刑事责任；造成损失的，应当承担部分或者全部赔偿责任。

Article 48 If a local government or a government department at any level, a public organization or an individual forcibly demands the People's Bank of China or its staff member to provide a loan or a guaranty in violation of the provisions in Article 29, the persons directly in charge and other persons who are directly responsible for the offense shall be subject to administrative sanctions in accordance with the law; if the case constitutes a crime, the offenders shall be investigated for criminal responsibility according to law; if losses are caused, the offenders shall be partially or wholly liable for the losses.

　　第四十九条 中国人民银行的工作人员泄露国家秘密，构成犯罪的，依法追究刑事责任；情节轻微的，依法给予行政处分。

Article 49 If any staff member of the People's Bank of China divulges State secrets and if the case constitutes a crime, he shall be investigated for criminal responsibility according to law; if the case is not serious, he shall be subject to administrative sanction according to law.

　　第五十条 中国人民银行的工作人员贪污受贿、徇私舞弊、滥用职权、玩忽职守，构成犯罪的，依法追究刑事责任；情节轻微的，依法给予行政处分。

Article 50 If any staff member of the People's Bank of China commits embezzlement, accepts bribes, conducts malpractices for personal ends, abuses his power or neglects his duty and if the case constitutes a crime, he shall be investigated for criminal responsibility according to law; if the case is not serious, he shall be subject to administrative sanction according to law.

　　第五十一条 本法自公布之日起施行。

Article 51 This Law shall be effective on the date of promulgation.