China's biggest foreign exchange lender that is racing to list said Thursday it was pressing ahead with talks with potential foreign investors.

The Bank of China said it was in talks with Germany's Deutsche Bank AG and Switzerland��s UBS AG, among several others, on strategic investment.

It was the first time that the bank, which has been hoping to list as early as this year, had confirmed the names of foreign entities that may be interested in buying a stake in the State banking giant.

"Yes, we are in talks with those banks," spokesman Wang Zhaowen said when asked whether the Bank of China was negotiating with Deutsche and UBS on potential strategic stakes.

Wang also confirmed an earlier report by the Financial News that the Bank of China was talking to Bank of America Corp. about strategic investment.

The three named foreign banks were among about 10 potential strategic investors that the Bank of China was talking to, the spokesman said, declining to name any more.

China has been pushing its biggest State banks to secure foreign strategic investors ahead of planned listings to help the banks introduce best practices and become more competitive. China aims to shore up its banking sector to sustain economic growth and cope with greater foreign competition.

Source: Shenzhen Daily/Agencies