Imperial College London

Professor Franklin Allen

Business School

Assoc Dean of Faculty & Res/ Dir of Brevan Howard Centre



+44 (0)20 7594 9195f.allen Website CV




2.05B52-53 Prince's GateSouth Kensington Campus






BibTex format

author = {Allen, F and Gu, X and Qian, J},
booktitle = {Sveriges Riksbank and the History of Central Banking},
publisher = {Studies in Macroeconomic History},
title = {The People’s Bank of China: From 1948 to 2016},
year = {2018}

RIS format (EndNote, RefMan)

AB - We provide a comprehensive review of the development and activities of the People’s Bank of China (PBC) over the last half century. First, the PBC has evolved from the mixture of a central bank and a commercial bank to the central bank of China, with this status legally confirmed in 1995. Although the mandates of the PBC have altered slightly over the past decades, the bank’s monetary policy has continuously met challenges in different stages of economic development. Second, in order to reach the objectives of economic growth and stable prices, the PBC does not operate in a single instrument environment, but employs a variety of policy instruments including price-based, quantity-based and administrative policy measures. Third, the PBC has been actively promoting financial reforms and playing a key role in regulation during special episodes such as the credit crunch in 2013. These have led to the rapid development of the financial system and may further contribute to economic growth and help balance the growth in different economic sectors.
AU - Allen,F
AU - Gu,X
AU - Qian,J
PB - Studies in Macroeconomic History
PY - 2018///
SN - 9781107193109
TI - The People’s Bank of China: From 1948 to 2016
T1 - Sveriges Riksbank and the History of Central Banking
ER -