The Shanghai-based unit will offer onshore brokerage underwriting, research and principal trading for domestic and global clients.
Citi has received approval from the China Securities Regulatory Commission (CSRC) to establish a wholly owned onshore securities venture in China, marking one of the bank’s most significant expansions in the market in recent years, The approval deepens the US bank’s presence in China The new entity, Citigroup Securities (China) Company Ltd ( CSCCL) , headquartered in Shanghai, will offer a full suite of capital markets services including equities brokerage, securities underwritin