Agricultural Bank of China (ABC) is wary of taking on foreign strategic investors as it prepares for its initial public offering (IPO), according to the bank’s chairman. Xiang Junbo said that ABC will introduce at least one domestic investor in the run-up to its listing, adding that any foreign participant would have to meet strict criteria, the Wall Street Journal reported. To qualify, a bank must have experienced little damage from the global financial crisis, have been financially sound for at least two years and have a track record of expertise in rural finance, which is ABC’s primary business. Xiang said there had been considerable interest from prospective foreign investors, but that ABC had yet to enter into negotiations with any of them. He added that China had learned much from the plight of Western lenders. “The biggest lesson from the global financial crisis is that banks need to pay attention to risk, risk, risk,” Xiang said.