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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 of the The Law of the Central Bank, 中央銀行法
(''Central Bank Law'')
The bank was originally proposed in 1923 by
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 in the Chinese Civil War by the Kuomintang (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 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 administration of state-owned corporations with "China" in their name, such as the Chunghwa Post.
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 northeast ...
, once founded in Mainland China 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.(''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, and was established a year later under the name Central Bank of China. Following the success of the Northern Expedition, the Central Bank took over the role of central bank for China from the Bank of China in 1928, with its headquarters in Shanghai. Before 1949, it was one of China's "Big Four Big Four or Big 4 may refer to:
Groups of companies
* Big Four accounting firms: Deloitte, Ernst & Young, KPMG, PwC
* Big Four (airlines) in the U.S. in the 20th century: American, Eastern, TWA, United
* Big Four (banking), several groupings ...
" national banks, along with the Bank of China, Bank of Communications, 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 in the Chinese Civil War by the Kuomintang (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 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 administration of state-owned corporations with "China" in their name, such as the Chunghwa Post.
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 Representative Office * London Representative OfficeList 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.See also
*Central Mint
The Central Mint is a subsidiary company of the Central Bank of the Republic of China (Taiwan). The major activities of the mint are minting and melting circulation and commemorative coins, and producing commemorative medals and other kind of c ...
* Central Engraving and Printing Plant
The Central Engraving and Printing Plant (CEPP; ) is a subsidiary of the Central Bank of the Republic of China (Taiwan). It is responsible for printing the paper bank notes of Taiwan in its currency, the New Taiwan dollar.
History
The company w ...
* Economy of Taiwan
* List of banks in Taiwan
* List of largest banks
* List of microfinance banks
This is a list of microfinance banks
{{dynamiclist
A
# :Advans
B
# :Bandhan Bank
# BRAC
E
# :ESAF Small Finance Bank
F
# FINCA
In English usage, a ''finca'' (; ) refers to a piece of rural or agricultural land, typically with a cottag ...
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