The Bank of China aims to bring in strategic investors, including at least one foreign investor, the Financial News said Thursday, as the country��s biggest foreign exchange lender moves towards a multi-billion-dollar IPO.

Last month, the Bank of China reorganized itself into a joint-stock firm, in which Central Huijin Investment held 100 percent of its shares on behalf of the government, preparing for an IPO worth up to US$4 billion expected to take place next year.

��The Bank of China is in talks with several big international institutions and the bank��s strategic investors in the future will include at least one overseas investor,�� the newspaper quoted Zhu Min, the bank��s assistant president, as saying.

��When we bring in strategic overseas investors, we not only want to bring in capital, but also advanced management experience and business mechanisms,�� Zhu said.

The Bank of China also could attract investment from big domestic companies, including private enterprises, Zhu added.

The Bank of China and China Construction Bank are spearheading a reform aimed at turning around the banking sector, which faces intense challenges as it opens to full foreign competition by 2007. (SD-Agencies)

Central Huijin was set up at the end of 2003 to oversee a US$45 billion capital injection split by China Construction Bank and the Bank of China under a pilot banking reform scheme.

 (Shenzhen Daily-Agencies)