Legal basis: China People's Bank Law of the People's Republic of China.
Article 1 This Law is formulated with a view to establishing the status of the People's Bank of China, clarifying its responsibilities, ensuring the correct formulation and implementation of the national monetary policy, establishing and improving the macro-control system of the central bank, and maintaining financial stability.
Article 2 The People's Bank of China is the central bank of People's Republic of China (PRC).
The People's Bank of China, under the leadership of the State Council, formulated and implemented monetary policies to prevent and resolve financial risks and maintain financial stability.
Article 3 The goal of monetary policy is to keep the currency stable, thus promoting economic growth.