Citigroup Moves Deeper Into China’s Capital Markets as Competition Intensifies Citigroup is reportedly on track to receive regulatory approval for a wholly owned mainland brokerage business by September 2026.
This would allow Citi to participate directly in A share trading, underwriting, and other onshore securities activities, opening up new avenues for fee and trading revenue.
The growth of China's capital markets has drawn Wall Street firms into the fray. Profits at Goldman Sachs' wholly owned China securities unit nearly tripled to 1.