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CCB considering Taiwan bank acquisition

China Construction Bank (CCB; 601939.SH, 0939.HK) Chairman Guo Shuqing said he is considering buying a stake in a mid-sized bank in Taiwan to expand CCB’s currency clearing, trade finance and wealth management services, the Wall Street Journal reported, citing state media. In an interview with the Commercial Times, Guo said it would be "ideal" if CCB could buy a 20% stake in a Taiwan-based lender, but that he would settle for 5%. He said the bank intends to submit an application to Taiwan’s banking regulator to set up a representative office on the island.

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