Bank of China says no specific time frame for completion of restructuring

HONG KONG (AFX-ASIA) - Bank of China Hong Kong/Macau regional office chief executive Liu Jinbao said there is no specific time frame for the completion of the bank's business restructuring.	    Speaking to reporters after releasing the bank's 2000 results, he said the whole restructuring is a "complicated and difficult task."	    Liu said he expects the legal and transition preparation work for the business restructuring to be completed by the end of the year.	    However, it is too early to talk about the bank's listing plans as its business restructuring plan is still in progress, he added.	    So far, the whole restructuring plan has been proceeding smoothly, Liu said.	    The restructuring plan was approved by the People's Bank of China in December and the Hong Kong Monetary Authority has "no objections in principle."	    The proposed restructuring plan aims to combine the total assets and liabilities of the 10-member banks in the BoC group.

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