The Central Bank of the Republic of China (), formerly the Central Bank of China from 1924 to 2007 and still referred to by its acronym CBC, is the central bank of Taiwan, headquartered in Taipei. Established in 1924 in Guangzhou, the bank relocated to Taiwan after the Chinese Civil War and assumed control over banknote issuance from the Bank of Taiwan in 1961.
Its legal and common name in Chinese is literally translated as the "Central Bank" (). The central bank is administered under the Executive Yuan of the ROC government.
History
Mainland China (1924-1949)
thumb|Central Bank of China headquarters between 1924 and 1927 in [[Guangzhou, Guangdong]]
thumb|Central Bank of China headquarters between 1928 and 1949 in [[Shanghai, former Russo-Chinese Bank Building on the Bund]]
thumb|Former branch of the Central Bank of China on West Jiaomin Lane in [[Beijing]]
thumb|A building on the former site of the (demolished) CBC building in [[Chongqing]]
The CBC was originally proposed in 1923 by Sun Yat-sen's Army and Navy Marshal stronghold of the Republic of China and was established in Guangzhou a year later, serving the Nationalist government from 1925. Following the success of the Northern Expedition, the CBC relocated to Shanghai and its head T. V. Soong negotiated a division of labor with the Bank of China in 1928 that refocused the latter on foreign-exchange operations. It was subsequently one of China's "Big Four" national banks, along with the Bank of China, Bank of Communications, and Farmers Bank of China, all of which were major banks of issue.
In 1932, the CBC lost jurisdiction over Northeast China to the Central Bank of Manchou in Changchun. Its role in the rest of the country was reinforced in the mid-1930s when the Nationalist government gave it a monopoly over note issuance, as part of a broader monetary overhaul that included the abandonment of China's prior silver standard. That reform was initially successful, but the CBC - together with the Nationalist government - soon lost control over parts of North China to the Mengjiang Bank in Kalgan and the United Reserve Bank in Peiping, then over central-eastern China to the Huaxing Commercial Bank then the Central Reserve Bank in Shanghai and Nanjing. In 1937-1938 it relocated to Wuhan, then Chongqing together with the government. In late July 1942, it was granted a monopoly over currency issuance in the territorial area controlled by the Nationalist government.