www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

Reporters' Log

ABC: No timetable fixed yet for IPO launch

By (Xinhua)
Updated: 2009-03-08 10:42

No timetable has been fixed for the Agricultural Bank of China (ABC) to go public, the bank's board chairman Xiang Junbo said Saturday.

Related readings:  ABC targets 160b yuan of new loans for farmers in 2009  Agricultural Bank of China becomes shareholding company  Official: CDB, ABC will wait for right time to go public  ABC shores up 100b yuan in loans for 2009 Agricultural Bank of China plans dual listing

The lender is the last among the big four State-owned commercial banks in China to launch an initial public offering (IPO).

"We are not in talks with any domestic or overseas strategic investor for the IPO deal," Xiang said on the sidelines of the annual session of the National People's Congress, or the parliament.

Previous media reports about the bank's IPO plan or talks with strategic investors are not true, but merely speculation, he told reporters.

Reuters reported last month the bank would begin marketing its dual listing plan in March, aiming to raise at least HK$100 billion ($12.8 billion), citing the Hong Kong-based South China Morning Post.

"We are still working on the technical preparation for the IPO launch, and will initiate the listing at an appropriate time," he said.

Xiang said the bank has planned to extend 480 billion yuan ($70 billion) of loans in 2009, an increase of 30 percent from last year.

ABC is the second largest lender in China by assets, after the Industrial and Commercial Bank of China.

Central Economic Work Conference

• Interest Rate Cut
• 30 Years of Reforms
• Coping with Financial Crisis
• Housing in China
• 2008 Tsinghua Management Global Forum
• more

Hot Words

• 政府注資 pump priming
• 軟環境 soft environment
• 糧食最低收購價 crops' minimum purchase prices

• 保八 Eight Percent Protection
• 以人為本 Put People First
• 農民企業家 Farmer-turned-entrepreneur
• 窗口指導 window guidance
• 下崗再就業 Re-employment after being laid off
• more

From Foreign Press

• German media give full coverage to Premier's report
• Overseas press praise China's 8% economic growth
• German media: Economy tops agenda at NPC session
• From the foreign press
• World media keeps close watch on 'two sessions'
• more

Letters

• Corruption top issue for public
• China adopts Food Safety Law
• China's economic growth in 2009
• more