Citi Wins Approval for Wholly Owned Securities Venture in China
Chinese regulators approved Citi's plan to establish a wholly owned securities company in China. The license will allow it to offer capital markets services onshore.
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09:00:56 AM UTC
SquawkNews
China's securities regulator said on Friday it has approved a plan by Citi NYSE:C to establish a fully owned securities unit in China, allowing the Wall Street bank to expand its presence in the world's second-largest economy.Headquartered in Shanghai, Citigroup Securities China Company is permitte…