C · News · 20261020N
China Market Access
CITIGROUP INC · 2026-10-20 · Importance 34 · Surprise 42 · In source text
Citigroup was involved in formal discussions between U.S. and Chinese officials regarding its permissions to operate in China’s financial market. The talks focused on Citigroup’s access to China’s financial-services market and could affect its ability to compete locally. Japanese firms including Mizuho Financial Group and Daiwa Securities Group have reportedly advanced farther, receiving final approval for wholly owned mainland China securities businesses, while Citigroup and Citadel Securities were still awaiting Beijing’s approval.
Key facts
- The report says major U.S. firms like Citigroup are still awaiting final approval from Beijing to operate wholly-owned securities businesses in mainland China. source
- US and Chinese representatives held formal talks about Citigroup's operating permissions in China as part of broader engagement on financial services. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | contingent | — | The report says major U.S. firms like Citigroup are still awaiting final approval from Beijing to operate wholly-owned securities… |