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Citi Wins Licence to Set up Fully-Owned China Securities Unit
The new unit will offer underwriting, brokerage and research services as Citi rebuilds its mainland presence after years of regulatory delays.
- On Friday, October 23, 2026, Chinese regulators approved Citigroup's plan to launch a wholly owned securities unit in China, ending a nearly five-year journey marked by regulatory friction in Washington and Beijing.
- Citi submitted its application for a brokerage license in late 2021 to expand onshore operations, though it faced delays navigating shifting data-security rules and scrutiny from authorities.
- Headquartered in Shanghai, the new unit will have a registered capital of 1.2 billion yuan and aims to employ around 100 people by year-end to provide onshore capital market services.
- CEO Jane Fraser stated the unit will "add onshore capabilities to our global platform," helping clients "raise capital, access investors and trade locally" while connecting them to global opportunities.
- The approval helps the firm rebuild its footprint after dissolving a 2019 joint venture with Orient Securities, positioning it to compete with rivals Goldman Sachs and Morgan Stanley in China's securities market.
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Citi wins licence to set up fully-owned China securities unit
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Coverage Details
Total News Sources10
Leaning Left0Leaning Right2Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
C 67%
R 33%
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