Citi CEO: Rapid Expansion of Citi's Presence in China Amid Strong Interest from Foreign Investors
Citi's Growth in China: CEO Jane Fraser highlighted that Citi's business in China is expanding as there is renewed interest from investors and companies, while Chinese firms are increasingly looking to international markets.
Strategic Focus: Despite exiting retail banking in China and India and reducing technical staff, Citi is not retreating but is focusing on capturing market share by serving Chinese companies with overseas expansion and cross-border needs.
Capital Market Activity: Citi has raised over USD250 billion for clients in global capital markets this year, with nearly USD30 billion specifically for Chinese clients, indicating strong demand for equity and bond issuance in Asia.
Future Projections: The bank anticipates significant transaction activity in Asia, particularly in Hong Kong, Mainland China, and India, with India's IPO market expected to reach USD20 billion in the next year.
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