Citibank (China) Co., Ltd. has received final approval from the China Securities Regulatory Commission to launch securities investment fund custody services onshore. Citi is the first major global custodian to be authorised to operate a domestic Chinese fund custody business.
Separately, Citi has opened an office at the Busan International Finance Center (BIFC) in Korea. Busan City selected Citi in 2020 to be one of the first BIFC international tenants.