People's Bank of China in the context of "Ministry of Finance of the People's Republic of China"

The State Council of the People's Republic of China, synonymous with Central People's Government, is the supreme administrative organ of China's unified state apparatus and the executive organ of the National People's Congress, the supreme organ of state power. It is composed of a premier, vice-premiers, state councilors, ministers, chairpersons of commissions, an auditor-general, the governor of the People's Bank of China, and a secretary-general.

The premier of the State Council is responsible for the State Council and exercises overall leadership of its work. The secretary-general of the State Council, under the leadership of the premier, is responsible for handling the daily work of the State Council and heads the General Office of the State Council. The executive meeting of the State Council, consisting of the premier, vice-premiers, state councilors, and the secretary-general, is held two to three times a month, while the plenary meeting, consisting of all members of the State Council, is held every six months.

The renminbi (Chinese: 人民币; pinyin: Rénmínbì; lit. 'People's Currency' Chinese pronunciation: [ʐən˧˥min˧˥pi˥˩]; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of China. The renminbi is issued by the People's Bank of China, the monetary authority of China. It is the world's fifth-most-traded currency as of April 2022. The Chinese yuan (元) is the basic unit of the renminbi.

One yuan is divided into 10 jiao (角), and the jiao is further subdivided into 10 fen (分). The word yuan is widely used to refer to the Chinese currency generally, especially in international contexts.

The Industrial and Commercial Bank of China (ICBC; Chinese: 中国工商银行) is a Chinese partially state-owned multinational banking and financial services corporation headquartered in Beijing, China. It is the largest of the "big four" banks in China, and the largest bank in the world by total assets. ICBC was created on 1 January 1984 from what were then the commercial banking operations of the People's Bank of China. ICBC is majority-owned by the Chinese government and has remained so after its landmark initial public offering in 2006. As end of 2021, ICBC shareholders included Central Huijin Investment (34.7 percent), the Chinese Ministry of Finance (31.1 percent), the National Council for Social Security Fund (3.5 percent), adding up to 69.3 percent under the ultimate control of the Ministry of Finance.

ICBC became the world's largest bank by total assets in 2012 (based on year-end balance sheet) and has kept this rank ever since. It was ranked first on the Forbes Global 2000 list of the world's top public companies in 2015. On 31 December 2022, it was the third-largest bank in the world by market capitalization at $211 billion. It is one of the most profitable companies in the world, ranking fourth according to Forbes in 2022. It has been designated a systemically important bank by the Financial Stability Board (FSB) since the start of the FSB's listing.

The Bank of China (BOC; Chinese: 中国银行; pinyin: Zhōngguó Yínháng; Portuguese: Banco da China) is a state-owned Chinese multinational banking and financial services corporation headquartered in Beijing, China. It is one of the "big four" banks in China. As of 31 December 2019, it was the second-largest lender in China overall and ninth-largest bank in the world by market capitalization value, and it is considered a systemically important bank by the Financial Stability Board. As of the end of 2020, it was the fourth-largest bank in the world in terms of total assets, ranked after the other three Chinese banks.

The Bank of China was formed in 1912 by renaming the Qing dynasty's Da-Qing Bank (est. 1905) under the newly established Republican government. Until 1942, it issued banknotes on behalf of the government as one of the "Big Four" banks of the period, together with the Bank of Communications (est. 1908), Central Bank of China (est. 1924), and Farmers Bank of China (est. 1933). Following the Chinese Communist Revolution in 1949, most of its operations were absorbed into the People's Bank of China (PBC); its core operations moved to and continued activity in Taiwan, where it renamed itself International Commercial Bank of China upon privatization in 1971. In 1979, the Bank of China was re-established by spin-off from the PBC in the early phase of Chinese economic reform.

Digital renminbi (Chinese: 数字人民币; also abbreviated as digital RMB and e-CNY), or Digital Currency Electronic Payment (DCEP, Chinese: 数字货币电子支付; pinyin: Shùzì huòbì diànzǐ zhīfù), is a central bank digital currency issued by China's central bank, the People's Bank of China. It is the first digital currency to be issued by a major economy, undergoing public testing as of April 2021. The digital RMB is legal tender and has equivalent value to other forms of renminbi, also known as the Chinese yuan (CNY), such as bills and coins.

The digital yuan is designed to move instantaneously in both domestic and international transactions. It aims to be cheaper and faster than existing financial transactions. The technology enables transactions to take place between two offline devices.