From Wikipedia, the free encyclopedia
"Central Bank of China" redirects here. For the central bank of the People's Republic of China, see
People's Bank of China.
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Central Bank of ROC headquarters in Taipei
The Central Bank of the Republic of China [1][2], formerly known in English as the Central Bank of China, [3] is the central bank of the Republic of China (TAIWAN).[4] Its legal and common name in Chinese (in Taiwan and elsewhere) is simply the "Central Bank"(traditional Chinese: zh:中央銀行; pinyin: Zhōngyāng Yínháng).[5] The central bank is governed under the Executive Yuan.[6] It should not be confused with the Bank of China, or People's Bank of China, which is a commercial bank and central bank of the People's Republic of China on the Chinese mainland respectively.
The bank was established under Sun Yat-sen's administration in Guangzhou in 1924. Following the success of the Northern Expedition, the Central Bank took over the role of acting as the central bank of the Republic of China from the Bank of China in 1928, with its headquarters in Shanghai. Before 1949, it was one of the "Big Four" national banks of China.
After the loss of the mainland in the Chinese Civil War by the Kuomintang and its subsequent retreat to Taiwan in 1949, the Central Bank of China also moved along with the government to Taiwan. However, until the Central Bank of China was re-established in 1961, the Bank of Taiwan acted as a de facto central bank. The Bank of Taiwan also issued the New Taiwan dollar until 2000, when the Central Bank of China finally took over.
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