China Construction Bank Corp. (0939.HK) said Thursday it is planning to buy into state-run debt-clearing agency China Cinda Asset Management Corp.

"It's possible for us to take a stake of 20%-30% in Cinda," said Guo Shuqing, chairman of the state-run lender.

"The size of the stake we will eventually buy is flexible," he added.

China Construction Bank has submitted a proposal for the deal to the Cabinet and the Ministry of Finance.

Cinda was established in 1999 to clear China Construction Bank's nonperforming loans.

Guo said China Construction Bank's new yuan loans totaled CNY600 billion in the January-May period.

"Of the total loans, infrastructure lending takes up the biggest portion," he said, without elaborating.