The People's Bank of China was formed on December 1, 1948 by merging the North China Bank, the North Sea Bank and the Northwest Farmers' Bank. 1983, the State Council decided that the People's Bank of China would exclusively exercise the functions of a national central bank. It is responsible for financial risk prevention and resolution, statistical data, bank cards, financial regulations, anti-counterfeit currency work, bulletin boards, etc. The People's Bank of China is the central bank of the People's Republic of China and one of the constituent departments of the State Council of the People's Republic of China.