Citigroup Inc. has applied for a securities license in China, according to a person familiar with the matter, as the New York-based banking giant eyes a bigger presence in the world’s second-largest economy.

The bank recently submitted its application to the China Securities and Regulatory Commission, the person said. Citigroup is also planning to apply for a futures license in the coming months and intends to hire around 100 people in mainland China in the next two years to support its expansion onshore, the person added.



Source link

By INFO

Leave a Reply

Your email address will not be published.