The Central Bank of the Republic of China (Taiwan) (CBC), known in English from 1924 to 2007 as the Central Bank of China, is the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a centra ...

of the

Republic of China Taiwan, officially the Republic of China (ROC), is a country in East Asia, at the junction of the East and South China Seas in the northwestern Pacific Ocean, with the People's Republic of China (PRC) to the northwest, Japan to the northeas ...

, once founded in

Mainland China "Mainland China" is a geopolitical term defined as the territory governed by the China, People's Republic of China (including islands like Hainan or Chongming Island, Chongming), excluding dependent territories of the PRC, and other territorie ...

and since relocated to Taiwan. Its legal and common name in Chinese is literally translated as the "Central Bank". The central bank is administered under the

Executive Yuan The Executive Yuan () is the executive branch of the government of the Republic of China (Taiwan). Its leader is the Premier, who is appointed by the President of the Republic of China, and requires confirmation by the Legislative Yuan. ...

of the ROC government.The Law of the Central Bank, 中央銀行法
(''Central Bank Law'')

History

Mainland China

The bank was originally proposed in 1923 by

Sun Yat-sen Sun Yat-sen (; also known by several other names; 12 November 1866 – 12 March 1925)Singtao daily. Saturday edition. 23 October 2010. section A18. Sun Yat-sen Xinhai revolution 100th anniversary edition . was a Chinese politician who serve ...

's administration in

Guangzhou Guangzhou (, ; ; or ; ), also known as Canton () and Chinese postal romanization, alternatively romanized as Kwongchow or Kwangchow, is the Capital city, capital and largest city of Guangdong Provinces of China, province in South China, sou ...

, and was established a year later under the name Central Bank of China. Following the success of the

Northern Expedition The Northern Expedition was a military campaign launched by the National Revolutionary Army (NRA) of the Kuomintang (KMT), also known as the "Chinese Nationalist Party", against the Beiyang government and other regional warlords in 1926. The ...

, the Central Bank took over the role of central bank for China from the

Bank of China The Bank of China (BOC; ) is a Chinese majority state-owned commercial bank headquartered in Beijing and the fourth largest bank in the world. The Bank of China was founded in 1912 by the Republican government as China's central bank, rep ...

in 1928, with its headquarters in

Shanghai Shanghai (; , , Standard Chinese, Standard Mandarin pronunciation: ) is one of the four Direct-administered municipalities of China, direct-administered municipalities of the China, People's Republic of China (PRC). The city is located on the ...

. Before 1949, it was one of China's " Big Four" national banks, along with the

Bank of Communications Bank of Communications Limited (BoComm) (; often abbreviated as ), is the fifth-largest bank in mainland China. Established in 1908, the Bank of Communications claims a long history in China and is one of the banks to have issued banknotes in m ...

, and Farmers Bank of China.

Taiwan

Taiwan's first bank, Bank of Taiwan, was founded in 1897 during Japanese colonial rule as the island's first central bank. After World War II, Taiwan was retroceded to the Republic of China in 1945 and the Central Bank of China was moved along with the government to Taiwan after losing

mainland China "Mainland China" is a geopolitical term defined as the territory governed by the China, People's Republic of China (including islands like Hainan or Chongming Island, Chongming), excluding dependent territories of the PRC, and other territorie ...

in the

Chinese Civil War The Chinese Civil War was fought between the Kuomintang-led government of the Republic of China and forces of the Chinese Communist Party, continuing intermittently since 1 August 1927 until 7 December 1949 with a Communist victory on main ...

by the

Kuomintang The Kuomintang (KMT), also referred to as the Guomindang (GMD), the Nationalist Party of China (NPC) or the Chinese Nationalist Party (CNP), is a major political party in the Republic of China, initially on the Chinese mainland and in Ta ...

(KMT) and its subsequent retreat to Taiwan in December 1949. Until it was re-established as central bank in 1961, the Bank of Taiwan acted as the ''de facto'' central bank in Taiwan. On 8 November 1979, the newly revised Central Bank of China Act was promulgated. The Bank of Taiwan issued the

New Taiwan dollar The New Taiwan dollar (code: TWD; symbol: NT$, also abbreviated as NT) is the official currency of Taiwan. The New Taiwan dollar has been the currency of Taiwan since 1949, when it replaced the Old Taiwan dollar, at a rate of 40,000 old dol ...

until 2000, when the Central Bank of China finally took over the task. In 2000 the English name of the Central Bank of China was renamed Central Bank of the Republic of China (Taiwan) along with a host of other renamings under the

Chen Shui-bian Chen Shui-bian (; born 12 October 1950) is a retired Taiwanese politician and lawyer who served as the president of the Republic of China (Taiwan) from 2000 to 2008. Chen was the first president from the Democratic Progressive Party (DPP) whic ...

administration of state-owned corporations with "China" in their name, such as the

Chunghwa Post Chunghwa Post Co., Ltd. is the official postal service of Taiwan (officially the Republic of China). Chunghwa Post was a government agency of the Ministry of Transportation and Communications until 2003, when it was reorganized into a governm ...

Organizational structure

* Department of Banking * Department of Issuing * Department of Foreign Exchange * Department of the Treasury * Department of Financial Inspection * Department of Economic Research * Secretariat * Department of Accounting * Department of Information Management * Personnel Office * Ethics Office * Legal Affairs Office *

New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...

Representative Office *

London London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...

Representative Office

List of governors

Access

The headquarters building is accessible within walking distance north-west from Chiang Kai-shek Memorial Hall MRT station of the

Taipei Metro Taipei Mass Rapid Transit (MRT), branded as Metro Taipei, is a rapid transit system serving the areas of Taipei and New Taipei in Taiwan, operated by the government-owned Taipei Rapid Transit Corporation, which also operates the Maokong Gondo ...

References

External links

* {{authority control 1924 establishments in China 1961 establishments in Taiwan Banks established in 1924 Banks of Taiwan China, Republic of Executive Yuan Government-owned companies of Taiwan Chinese companies established in 1924