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Agricultural Bank of China Limited established

By Hu Yuanyuan (Xinhua)
Updated: 2009-01-16 13:23

Agricultural Bank of China Limited is incorporated today in Beijing, giving the final touch to its restructuring from a State-owned enterprise to a State-controlled commercial bank.

The bank, with a registered capital of 260 billion yuan ($38.01 billion), is equally owned by the Ministry of Finance and Central Huijin, a subsidiary of China's sovereign wealth fund. As reported, the bank is considering a dual listing in Shanghai and Hong Kong, and is now seeking strategic overseas investors.

Xiang Junbo has been named chairman and Zhang Yun, president of the bank.