HONG KONG -- Citibank intends to add more branches and representative offices in China in the next few years and hopes to become a dealer in the local currency.

During a recent visit to Hong Kong, Citibank's chairman, John S. Reed, said that while much of the West has been focusing on Eastern Europe, Citibank is moving quickly into China because more of its customers have banking needs there.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.