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What was the name of the bank established in 1948 by the Communist party? Lernen beginnen
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What was the role of the PBoC bank? Lernen beginnen
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It served entire Chinese financial system as a central bank as well as commercial bank.
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What the commercial bank PBoC was divided into? Lernen beginnen
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Bank of China, the People’s Construction Bank of China, the Agricultural Bank of China and the Industrial and Commercial Bank of China.
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In 2003, the China Banking Regulatory Commission was established to take over from the PBoC the role of supervising the financial industry.
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Of how many members does the council in China consists of? Lernen beginnen
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Lernen beginnen
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Interest Rates; Reserve requirements; open-market operations; exchange rate; administrative monetary policy
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What are the lending rates? Lernen beginnen
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The rates at which commercial banks charge the public when lending.
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What are the deposit rates? Lernen beginnen
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The rates at which commercial banks pay the public in return for deposits.
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What are re-lending rates? Lernen beginnen
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The rates at which the PBoC charges commercial banks when lending.
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What are rediscount rates? Lernen beginnen
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The rate at which the PBoC charges commercial banks with discount notes.
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What is the divisible by 9 rule? Lernen beginnen
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Interest rates are divisible by 9 instead of 25.
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What are the reasons for DB9 rule? Lernen beginnen
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1. Chinese financial calendar has 360 days, instead of 365 or 366 days. 2. The number 9 in Chinese language shares a pronunciation with the word ``longevity" and monetary policy has to be sustainable.
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What specific is about reserve requirements? Lernen beginnen
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Besides the level of reserve requirements, the PBoC sets the interest rates at which it pays commercial banks for the required reserves and the voluntary ones.
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What is administrative monetary policy in China? Lernen beginnen
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Most of commercials banks in China are state-owned. Therefore, PBoC is able to tell them to reduce the loans when it wants to thighten monetary policy and other way round.
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What are the transmission channels? Lernen beginnen
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Bank and Inter-bank Interest Rates, Inflation Expectations, Credit Supply, Asset Prices, Consumption and Investment behaviour.
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What happens when interest rates are changed? Lernen beginnen
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The change in interest rates affects consumption and investment behaviors by making it more expensive or cheaper to fund consumption and investment.
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What happens when reserve requirements are changed? Lernen beginnen
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affects the amount of money available for lending to households and companies.
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What happens when PBoC changes lending and deposit rates? Lernen beginnen
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it first directly affects bank interest rates because it sets those interest rates, with a very limited freedom of a floor for lending rates and a ceiling for deposit rates, It also indirectly affects inter-bank interest rates when it changes the re-lending or rediscount rates, or the reserve requirement for commercial banks.
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Does change of interest rate affect asset price? Lernen beginnen
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yes because of its impact on funding conditions and public expectations
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What does changes in behaviour affect? Lernen beginnen
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level of domestic demand for goods and services relative to domestic supply and as a result, influence price developments.
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Define aspects of chinese stabilization. Lernen beginnen
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Steadily Growing Demand, Steady Agricultural and Industrial Output, Positive Growth of Fiscal Revenue and Expenditure, Surplus in Balance of Payments
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How chinese MP will look like in the future? Lernen beginnen
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ModeratelyEasyMonetaryPolicy, To Maintain the Stability of the Local Financial System, To Create Good Monetary and Credit Environment
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