Bank of China and China Construction Bank are close to naming strategic investors, although it remains uncertain whether they will complete their IPOs this year, Reuters reported, citing Liu Mingkang, chairman of the China Banking Regulatory Commission. CCB already has signed memoranda of understanding with potential partners, while BoC is "very close" to signing MOUs, Liu said, adding that the partnerships with foreign banks are a precondition for the banks' successful IPO. About 80% of Chinese banks will meet internationally mandated capital adequacy ratios of 8% next year, a year ahead of target, Liu said in a speech earlier.
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