BOC seeking foreign partner

The Bank of China is in talks to sell an equity stake to a foreign bank. The mainland bank is in discussion with JP Morgan Chase, Citicorp, Deutsche Bank and UBS. The China Banking Regulatory Commission allows overseas investors to hold up to 25% of mainland banks, with no single overseas party allowed to hold more than a 20% share. Analysts said that Bank of China is seeking an overseas partner as part of its plans to list on overseas stock markets.