The licence lets Citibank (China) provide custody-related services to both mutual funds and private funds domiciled in China. Photo: Bloomberg The licence lets Citibank (China) provide custody-related services to both mutual funds and private funds domiciled in China. Photo: Bloomberg
The licence lets Citibank (China) provide custody-related services to both mutual funds and private funds domiciled in China. Photo: Bloomberg

US banking giant Citigroup granted custody licence in China as mainland fund sector further opens up

  • Citi becomes first American bank to receive domestic fund custody licence following new rules adopted this year
  • Foreign lenders, asset managers are seeking to tap into growing income of Chinese middle class

Topic |   Banking & Finance
The licence lets Citibank (China) provide custody-related services to both mutual funds and private funds domiciled in China. Photo: Bloomberg The licence lets Citibank (China) provide custody-related services to both mutual funds and private funds domiciled in China. Photo: Bloomberg
The licence lets Citibank (China) provide custody-related services to both mutual funds and private funds domiciled in China. Photo: Bloomberg
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