BEIJING, July 28 China's Bank of Communications
Co Ltd (BoCom) is studying feasibility
plans for the implementation of hybrid ownership reforms to help
improve its competitiveness, it said on Monday.
The country's fifth-largest lender is "actively studying
feasibility plans on deepening hybrid ownership reforms and
improving internal corporate governance mechanism," it said in a
The reforms would help strengthen the bank's risk controls
and improve its competitiveness in the market, it said.
Sources told Reuters on Friday that the bank had applied to
become the first state-controlled bank to pilot the so-called
hybrid ownership reform, paving the way for selling stakes to
The application comes just over a week after the government
named six state-owned enterprises that it wanted to see revamp
operations to attract investment, part of reforms aimed at
letting private capital play a bigger role in the economy.
BoCom is a joint-stock bank whose biggest shareholder is the
Ministry of Finance with 27 percent, followed by HSBC Holdings
PLC with 19 percent.
(Reporting by Kevin Yao; Editing by Robert Birsel)