central bank of china

The Central Bank of China (中央銀行) is the central bank of the Republic of China (on Taiwan). (This is not to be confused with the Bank of China or People's Bank of China of the People's Republic of China.) The bank was first established under Sun Yat-sen's administration in Guangzhou in 1924. The bank is governed under the Executive Yuan. After the loss of the mainland in the Chinese Civil War by the Kuomintang and its subsequent retreat to Taiwan, the Central Bank of China also moved along with the government to Taiwan. However, the Bank of Taiwan was the bank acting in a more central role as the central bank of the ROC issuing the New Taiwan dollar until the Central Bank of China was reestablished in 1961. In 2001, the Central Bank of China finally took over the responsible for issuing the New Taiwan dollar, the fiat currency of the ROC.

External link

China, Bank of

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