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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: RealMuLan	3/7/2005 12:58:07 AM
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Bank of China, China Construction Bank IPOs 'not too far away' BEIJING: The planned listings of state-owned Bank of China and the China Construction Bank are "not too far away", central bank governor Zhou Xiaochuan said. Zhou said preparations for a stock listing were basically completed and the timing was up to the boards of the two banks. "They must take into consideration whether there are windows of opportunity on the capital markets," he said at a press conference. Zhou added that the banks were also consulting their joint ventures, financial advisers and accounting firms regarding the timing. He did not elaborate on the size or precise markets to be selected for the listings. In late 2003, Beijing began an ambitious plan to reform its debt-ridden banking sector by pumping 22.5 billion dollars each into China Construction Bank and Bank of China as part of preparations for a public listing. channelnewsasia.com

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