DALIAN, Sept 10 (CEIS): World business leaders attending the Summer Davos in Dalian are seeking to expand their presence in China, which has seen booming economic growth for nearly three decades.
US banking giant Citibank announced at the meeting it has been approved by the China Banking Regulatory Commission to open a branch in Dalian later this year, its eighth in China and the first in the country's northeastern areas.
"With its infrastructure and outstanding support for foreign investment, the thriving city of Dalian represents a key city for Citibank's expansion plans in China," said William Rhodes, chairman of Citibank NA, at the meeting.
Citibank is among several major international banks that are ramping up presence in China, particularly after the country fully opened its banking sector to foreign banks in December last year to fulfil its WTO commitment.
World business leaders eye mkt expansion in China
FE Team | Published: September 11, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
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