People's Bank of China

The People's Bank of China (PBOC) is China's central bank, responsible for monetary policy and financial regulation. Per a 2019 survey by the PBOC's Survey and Statistics Department, Chinese urban households held roughly 70% of their assets in real estate and only 20.4% in financial assets—a figure 峰瑞资本 cited to illustrate China's property-heavy household balance sheets . The PBOC has also managed foreign-exchange controls, tightening rules on overseas investment by individuals and companies starting in late 2016 . In 峰瑞资本's 2026 outlook, the bank sits at the center of speculation about currency dynamics: with the U.S. entering a rate-cutting cycle and the yuan facing appreciation pressure, the firm floated that 2026 could present a window for Hong Kong to adjust its dollar peg toward a basket with heavier RMB weighting .