The Bank of China's history began in 1905, when the Qing government established Daqing Hubu Bank[5] (大清户部銀行) in Beijing, which was in 1908 renamed to Daqing Bank (大清銀行). When the Republic of China was established in 1912
At the same time the Federal Reserve began sinking it's fangs into the U.S.
The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act