CCB listing in doubt

China Construction Bank (CCB) is expected to delay its planned listing to 2005 or later because of official doubts about the property lender's readiness for listing, according to a report in the South China Morning Post. CCB recently received a US$22.5 billion capital injection from the central government. The bank has previously said that it planned to finish restructuring and seek a simultaneous dual listing in Hong Kong and New York by the end of the year with the hopes of raising US$10 billion. Analysts said that the central government is concerned about rushing CCB's listing, especially in New York, where regulators are reportedly probing China Life regarding disclosure issues. CCB officials did not offer any new information on the bank's listing plan.