Citigroup is expected to secure Chinese regulatory clearance for its fully owned brokerage operation in mainland China as early as this month, with plans to recruit several dozen employees for the business in the coming months, according to Reuters.
Sources told Reuters that the final approval may come around the period of Chinese President Xi Jinping's scheduled trip to Washington for talks with US President Donald Trump in late September.
Reuters said the prospect of approval this month had not been previously disclosed.
Citi declined to comment.
The US lender, already active in China through corporate, institutional and related banking services, applied in late 2021 for a licence to establish a fully owned mainland brokerage arm as part of a broader effort to deepen its operations in the country.
#China #fully
Sources told Reuters that the final approval may come around the period of Chinese President Xi Jinping's scheduled trip to Washington for talks with US President Donald Trump in late September.
Reuters said the prospect of approval this month had not been previously disclosed.
Citi declined to comment.
The US lender, already active in China through corporate, institutional and related banking services, applied in late 2021 for a licence to establish a fully owned mainland brokerage arm as part of a broader effort to deepen its operations in the country.
#China #fully
4 days ago
