Bloomberg Businessweek

The Long March To Openness

China’s once-cloistered central bank is becoming more communicative

It was the only lender in Mao Zedong’s era, taking orders from the top to control the flow of money through the command economy. Now, even after decades of financial liberalization, the People’s Bank of China has its hands on far more levers than other global central banks as it works to keep the nation’s 40-year growth streak humming along.

From its imposing headquarters in Beijing’s Xicheng District, the PBOC relies on a number of tools to direct the flow of liquidity in the $40 trillion-plus financial system. The seven-decade-old institution channels cash

You're reading a preview, sign up to read more.

More from Bloomberg Businessweek

Bloomberg Businessweek3 min read
Your Japanese Whisky May Be Mostly Scotch
In less than a decade, Japanese whisky has risen from relative obscurity to the most sought-after liquor on the planet. Much of that demand has been driven by U.S. and European drinkers who, whether consciously or not, are seduced by the mysticism o
Bloomberg Businessweek2 min readFood & Wine
Got Milk Bread?
Supremely soft loaves from Japan redeem a childhood staple By Kate Krader Photograph by Danny Kim
Bloomberg Businessweek11 min read
Mary Barra Risks It All
To reach its electric, self-driving future, GM has to overcome challenges. Like strikes. And tech that works. And finding a market