The China National Clearing Center of the People's Bank of China (PBC) is a public institution directly under the People's Bank of China (PBC). It is a national financial service organization that provides payment, clearing, and related services to the central bank, commercial banks, and the whole society.

The central bank payment system—which is built, operated, maintained, and managed by the PBC—provides comprehensive support for a wide range of payment scenarios, including large-value fund transfers for enterprises and institutions, financial market transactions, retail payments for individuals, and domestic foreign currency payments. It meets the demand for interbank clearing across different times, amounts, and currencies, as well as fund settlement using various payment instruments. It is a critical component of China's financial infrastructure and stands at a leading level among similar systems internationally.

Socialism with Chinese characteristics has entered a new era, and the development of the central bank payment system has made remarkable progress. In 2012, the system as a whole processed 1.519 billion transactions with a total value of 1,809.87 trillion yuan. By 2024, the number and value of transactions processed reached 21.839 billion and 9,347.17 trillion yuan respectively—a 14.4-fold increase in transaction volume over the 13-year period. The total value processed in 2024 was approximately 69 times China's GDP during the same period. The system has over 150,000 participants, covering all banking institutions nationwide as well as the vast majority of non-bank financial institutions, rural financial institutions, specialized clearing institutions, and settlement organizations for bonds, foreign exchange, and more. It serves as the "main artery" and "expressway" for social fund transfers in China.

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and fully implementing the spirit of the 20th National Congress of the Communist Party of China, the PBCC—under the correct leadership of the Party Committee of the People's Bank of China—adheres to a financial development path with Chinese characteristics. With the construction and improvement of the central bank payment and clearing service system at its core, and driven by business expansion and technological innovation, the PBCC is committed to achieving high-quality development of payment and clearing services, high-level security of the payment system, and high-efficiency coordination both among industry participants and within the organization, thereby contributing financial strength to the comprehensive building of a modern socialist country.