China Construction Bank eyes U.S. expansion

BEIJING, Oct 17 (Reuters) - China Construction Bank (0939.HK: Quote, Profile, Research, Stock Buzz) (601939.SS: Quote, Profile, Research, Stock Buzz) has been trying to open a branch in the United States but has so far failed to win the approval of U.S. regulators, Chairman Guo Shuqing said on Wednesday.

Bank of America (BAC.N: Quote, Profile, Research, Stock Buzz), which holds a strategic stake in CCB, has agreed not to enter retail banking in China, but this would not prevent CCB from entering the retail business in the United States, Guo told reporters.

If it did so, CCB would cooperate with BoA, he added.