Handle domestic settlement; Handle bill acceptance and discount; Acting as an agent to issue, honor and underwrite government bonds; Buying and selling government bonds and financial bonds; Engage in interbank lending; Acting for collection and payment; Provide safe deposit box service; Other businesses approved by China Banking Regulatory Commission and its dispatched offices, insurance agency business.
Banks are divided into:
The central bank, policy banks, commercial banks, investment banks and the World Bank have different responsibilities.
Central Bank: China People's Bank is the central bank of China. Responsibilities: Implement monetary policy, macro-control the national economy, supervise and manage financial institutions and even specialized financial institutions in the financial industry.
Policy banks: including The Export-Import Bank of China, China Agricultural Development Bank and China National Development Bank. Responsibilities: Financial institutions that participate in or guarantee shares, engage in policy financing activities directly or indirectly in specific business areas for non-profit purposes, and serve as tools for the government to develop the economy, promote social progress and conduct macroeconomic management.
Commercial banks: including China Industrial and Commercial Bank, China Agricultural Bank, China Bank, China Construction Bank, China Postal Savings Bank and Bank of Communications. Responsibilities: Financial institutions that act as credit intermediaries through deposits, loans, remittances and savings. Commercial banks are one of the most important financial institutions, and their main business scope includes absorbing public deposits, issuing loans and discounting bills.
Investment banks: including Goldman Sachs, Morgan Stanley, Citigroup, Wells Fargo, Societe Generale, etc. Responsibilities: Non-bank financial institutions engaged in securities issuance, underwriting, trading, enterprise restructuring, mergers and acquisitions, investment analysis, venture capital, project financing, etc.
World Bank: It is used to help countries overcome poverty. Various institutions play a unique role in alleviating poverty and improving living standards.