Citibank to open three new outlets on Chinese mainland

Updated: 2006-10-06 14:28

Citibank is consolidates its presence on the Chinese mainland with plans to open new consumer-banking outlets in Shanghai, Beijing and Tianjin in October.

Citibank was preparing to expand as China would fully open its financial markets by the end of 2006 under its obligations to the World Trade Organization, said Lee Ah-Boon, county business manager for Citibank China.

The new outlets would offer services to local and foreign companies, Chinese residents and foreign nationals, said Lee.

"China remains a top strategic focus for Citigroup globally," he said.

Citigroup, an international global financial services company, has 200 million customer accounts and operates in more than 100 countries.

Citigroup first established an office in Shanghai in 1902. It currently operates six branches and 12 outlets in Beijing, Shanghai, Guangzhou, Shenzhen and Tianjin.

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