China Development Bank (CDB) Friday claimed it was looking to extend ties with Barclays, refuting a rumor that it was considering selling its stake in the UK lender.

Media reports Thursday quoted CDB president Jiang Chaoliang as saying the bank was reviewing its strategic ties with Barclays, including its equity stake in the lender.

Responding to the reports, CDB said in a statement on its website it maintains good cooperation with Barclays and has no plan to sell its stake in the UK lender.

The CDB said it was considering deepening ties with Barclays and details concerning further cooperation would be decided by the board.

CDB bought a 3-percent stake in Barclays in 2007 to help finance the British bank's bid for ABN AMRO, but the Dutch bank was eventually bought by Royal Bank of Scotland Group.

(Xinhua News Agency March 5, 2010)