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functioning as cashier for the Ministry of Finance and the
State Planning Commission, responsible for disbursing funds
to and collecting funds from all state-owned enterprises and local authorities in accordance with the state plan.
16.
officially
In 1979, the Agricultural Bank of China was
re-established and took over the rural branch
was also charged with the
supervising the
rural credit
network of
responsibility
cooperatives.
PBOC.
of
Construction Bank of
in the Ministry
investment
projects. providing
It
At roughly the same time, the People's
China, which used to be a department
of Finance for allocating capital
funds, began to provide loans for capital By 1985 it had fully taken up the function of capital construction loans to enterprises. As to
the Bank of China, it was re-organised in early 1979 as a
bank specialised in foreign exchange business.
Its
overseas branches, including that in Hong Kong, are
nevertheless involved in a much wider range of commercial
banking activities in the respective economies.
17.
in
The China Investment Bank was established
1981, primarily acting as an agent for such international
organisations as the World Bank and the Asian Development
in distributing their loans to small and medium-sized
enterprises in China for investment projects.
Bank,
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