Stock Groups

Citigroup applies for China securities license

by Mike Robinson

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© Reuters.

(Reuters) – Citigroup Inc (NYSE:) filed for a China Securities License as the New York-based bank looks to increase its presence in China, The Wall Street Journal reported Friday.

A bank application was submitted to China Securities and Regulatory Commission recently. The bank is applying for a futures licensing license in the next few months according to the report, citing a source with knowledge of the matter.

The report stated that Citigroup plans to employ around 100 mainland Chinese workers in the coming two years in support of its growth onshore.

Citigroup has not yet responded to Reuters’s request for comment after hours.

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