The Legal Status Of People's Bank Of China

The legal status of central bank means under relevant law, the status between the central bank and other legal subjects involved in the occurrence of legal relationship. Currently, the legal status of central banks is developing in a more independent way worldwide. However, due to the contest between two theories (authorization and power control), this kind of independent legal status of central bank only can be relative.By virtue of differences among countries, their central banks not only vary in degree of independency, but also differ in the specific design of systems. Analyzed from independence angle, the current legal status of People's Bank of China is manifested in these forms:indirect discipline of the highest authority, direct leadership of the State Council, completely independent from other legal subjects. Although the legal status of People's Bank of China is increasingly independent, this independency remains plenty of problems both in legislation and implementation.This paper starts from the inefficiency of People's Bank of China, takes the experiences taken from mature legal system abroad as the foundation and builds a new system mode which including mechanics of accountability of highest authority, supervision system of the State Council, the independent budget system in the true sense and assisted with the reforms of personnel, organization systems and etc. To reposition the current legal status of People's Bank of China, expecting to build a more feasible one to our national conditions.