Bank President Wang Mingquan said the bank will first replenish its capital.
Debentures are bonds issued to institutions.
The bank will also prepare to issue shares to individuals and go public on a domestic bourse, he said. The bank was set up in 1988. It was the country's first shareholding bank, with investment from the central government and State enterprises. In the face of tougher competition brought about by the country's economic restructuring and expected after China's entry into the World Trade Organization, the shareholding banks have been seeking ways to get stronger and more competitive. Almost all of them have or are considering recapitalization plans and getting listed as ways to consolidate their positions in the banking sector.