Agricultural Bank of China (ABC) plans to turn itself into a joint-stock company and split the management of its rural and urban businesses, according to the bank’s president Xiang Junbo, the Wall Street Journal reported. The bank’s long-term plan is to hold an IPO for the joint-stock company, which will include both halves, he added. The proposal, which requires State Council approval, has already been delayed over conflicts between the bank’s urban and rural sectors. ABC said that before finalizing the overhaul plan, it will undergo internal restructuring to improve corporate governance, human resources, accounting and risk management. ABC is the only "Big Four" state-owned bank that has not listed.