Citigroup's Jane Fraser said the U.S. bank will continue to expand its Chinese business, China's new financial regulator said, during her first visit to the country since becoming CEO.
People walk past a Citibank branch in New York August 21, 2012. REUTERS/Brendan McDermid /File PhotoJane Fraser said the U.S. bank will continue to expand its Chinese business, China's new financial regulator said, during her first visit to the country since becoming CEO.
As Beijing pushes to attract more foreign capital, the National Financial Regulatory Administration said that Fraser held a meeting on Monday with its head Li Yunze.China's multi-trillion dollar financial industry, excluding the securities sector. The NFRA said in a statement on Wednesday that Fraser and accompanying executives said they are "fully confident in China's economic and financial growth" and Citi "will play to its strength and continue to expand its business in China".
The CEO also held meetings with Citi staff and clients, which include some of the largest U.S. multinational companies with presence in China, a Citi spokesperson said. Fraser's first trip to China since taking up the CEO role in March 2021 follows a visits by JPMorgan's chief Jamie Dimon last week and by other
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