Bank of China Not Merging with Everbright BankThe Bank of China (BOC) will not merge with the Everbright Bank of China (EBC) at present, said Liu Mingkang, chairman of both banks.Liu made it clear that his position in the two banks did not stand for a forthcoming merge, the Economic Information Daily reported. The two banks have their own jobs and will not be involved in capital alliance while communication and cooperation will be strengthened between them, Liu said. Liu, who was moved from the deputy governor of the People's Bank of China, the central bank, to the chairman of the Everbright Group in September, 1999, took the leadership in the Bank of China last February. Bank of China is one of the four state commercial banks with focus on international business and foreign exchanges, and China Everbright Bank is a joint-stock commercial bank with state-owned companies as its major stockholders. |
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