CCB to tread carefully on acquisitions

China Construction Bank (CCB), the country's second largest lender by market value, will tread cautiously on overseas acquisitions this year, Guo Shuqing, chairman, CCB told China Daily.

"The global financial crisis is far from over and a lot of things are still uncertain. We will not make hasty decisions on overseas acquisitions under such circumstances," Guo said.

The value of numerous global banks has declined sharply due to the financial crisis. For instance, Citigroup shares have fallen by more than 94 percent from its 52-week high of $27.35 in April 2008.