BEIJING - Citigroup Inc (Citi) will increase its investment in China while cutting its workforce globally, Chief Executive Vikram Pandit told China Daily on Thursday.

"We are resizing certain businesses, but part of the resizing is to relocate resources to where the growth is. Our involvement in China requires investment. We will continue investing and recruiting in China," he said.

In December, Pandit has announced that Citi will cut 4,500 jobs worldwide in order to trim costs. The layoffs equal about 2 per cent of Citi's current workforce. Citi also plans to eliminate 3 to 5 per cent of expenses each year.

"As a global company, we've been working very hard at connecting the emerging markets with each other. China is at the center of that, as one of the fastest growing economies in the world and one of our fastest growing businesses," Pandit said.