Postal Savings Bank seeks more investment

Postal Savings Bank of China Co Ltd is accelerating the process of introducing strategic investors to the bank, its vice-president Xu Xueming said on Thursday.

Wholly owned by China Post Group Corp, the State-owned postal service, the bank is preparing for an initial public offering in 2016, aiming to raise up to $25 billion, people with knowledge of the matter said in February.

"Introducing strategic investors will help introduce capital, management mechanism and intellectual support to our bank. This way, we'll improve our corporate governance structure, level of management and ability to serve the real economy. We could also build a long-term mechanism to replenish the capital after our bank is floated on the stock market," Xu said at a media conference in Beijing.