The Bank of Communications, China's fifth largest commercial bank, plans to list next year as part of a sector-wide financial restructuring.

The bank is in talks with British-based HSBC about selling a 20 percent stake, and it has already submitted a reform plan to the State Council, China's cabinet.

At present it's unclear whether the state-owned bank would list on the domestic or international markets.

Last year, China initiated an aggressive campaign to whip its troubled banking industry into shape ahead of full-opening up of the financial sector to foreign competition by the end of 2006.

(CRI July 8, 2004)