Page "Central bank" Paragraph 7

The People's Bank of China evolved its role as a central bank starting in about 1979 with the introduction of market reforms, which accelerated in 1989 when the country adopted a generally capitalist approach to its export economy.

Evolving further partly in response to the European Central Bank, the People's Bank of China has by 2000 become a modern central bank.

The most recent bank model, was introduced together with the euro, involves coordination of the European national banks, which continue to manage their respective economies separately in all respects other than currency exchange and base interest rates.