Jan. 23, 2007 (China Knowledge) – Bank of China (BOC) <3988><601988> has denied media reports that it is eyeing the U.S. market by buying an U.S. consumer finance firm for about US$2 billion.

BOC’s spokesperson Wang Zhaowen told XFN-Asia that the bank has neither investment nor merger plans in the U.S.

Wang’s clarification comes after the South China Morning Post on Monday reported that BOC is planning to acquire other foreign lenders as part of the bank’s strategy to acquire new technology and other expertise for expansion in China.