Editorial Summary

China Everbright Group's banking unit China Everbright Bank plans to list on the mainland A-share market before the 2008 Beijing Olympics, reports Security Times quoting an unnamed insider. The state-owned Central Huijin Investment Corporation signed an agreement with Everbright Bank on November 28 to inject 20 billion Yuan for a 70.88 percent stake in the bank, reports the Beijing News. Central Huijin also nominated seven of the bank's 13 board members, said the report. Everbright Bank will restart its plan to introduce strategic investors and apply for an initial public offering, which has been delayed for about three years, said the report quoting an Everbright Bank insider. According to bank vice president Xie Zhichun, the bank plans to sell up to a 20 percent stake to foreign investors.