Discussions continue about the World Bank's proposed participation in the China Minsheng Banking Corp, China Daily quoted a top Minsheng official as saying. Minsheng is China's only non-state bank. Xinhua (the New China News Agency) said that Minsheng chairman Jing Shuping had said the bank had given its financial statements to the International Finance Corp (IFC), a World Bank subsidiary. More talks were expected after the company finished studying the statements. The IFC, which specialises in financing the private sector, last year asked to buy a stake in Minsheng, which responded positively. China's financial authorities supported the idea, Mr Jing said. The purchase would be the second case of international involvement in China's banking sector. The first was the Asian Development Bank's (ADB) equity investment in China Everbright Bank last year. The issue drew international banking attention because the country's banking sector had excluded foreign investment. The People's Bank of China said ADB's purchase was not 'foreign' because ADB was an international institution, of which China held a share. However, the central bank said the Everbright case would be an experiment. Mr Jing said Minsheng hoped to receive IFC assistance in its efforts to become a world standard commercial bank. That has been one of the bank's top tasks since the bank opened early last year. The All-China Federation of Industry and Commerce launched the bank to serve the country's capital-starved private sector. Mr Jing is chairman of the federation. The bank's majority shareholders are private enterprises. It aroused IFC's interest, which had been waiting to play a role in the country's financial reform.