China Construction Bank, one of the People's Republic of China's Big Four state-owned commercial banks, looks increasingly likely to launch its long-awaited pilot MBS in the first half of the year, sources familiar with the deal said last week.

April has been targeted as a launch date for the deal - China's first of potentially many MBS - that is being structured by Standard Chartered and Freshfields Bruckhaus Deringer as legal adviser. While April may be optimistic, June, at the latest seems an attainable goal.

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