Citigroup Inc. has utilized for a securities license in China, in accordance with an individual conversant in the matter, because the New York-based banking large eyes an even bigger presence on the earth’s second-largest financial system.
The financial institution not too long ago submitted its software to the China Securities and Regulatory Fee, the individual stated. Citigroup can also be planning to use for a futures license within the coming months and intends to rent round 100 individuals in mainland China within the subsequent two years to assist its growth onshore, the individual added.