China bank systems vs China state organizations

-People's Bank of China is the central bank, formulating monetary policy and regulating financial institutions, regulating inter-bank lending, administrating foreign exchange and inter-bank foreign exchange market. -regulated under State Council (Guo Weu Yuan) -Bank of China is one of four state-owned commerical banks, Central Bank of China, Farmers Bank of China and Bank of Communications. -After the eruption of the financial crisis in the capitalist countries of Asia in 1997, in order to prevent and eliminate financial risks, the People’s Bank of China established a management system in 1998 to conduct independent management and supervision over the banking, securities and insurance sectors -Ministry of Finance (Cai Zhen Bu), formulating guidelines for the implementation of financial rules of finance corporations. http://english.mofcom.gov.cn/index.shtml -People organizations http://english.mofcom.gov.cn/organization.shtml -Ministry and Finance and People's bank of Centeral are all directly under State Councile