Citigroup applies for China securities licence
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[BEIJING] Citigroup has applied for a securities licence in China as the New York-based bank eyes a bigger presence in the world's second largest economy, the Wall Street Journal reported on Friday.
The bank recently submitted its application to the China Securities and Regulatory Commission and is also applying for a futures licence in the coming months, the report said, citing a person familiar with the matter.
Citigroup intends to hire around 100 people in mainland China in the next two years to support its expansion onshore, the report said.
Citigroup did not immediately respond to a Reuters request for comment outside of business hours.
REUTERS
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