Citibank (China) Co., Ltd. (“Citi”) has been granted approval by the China Banking Regulatory Commission to open a branch in the city of Dalian. The Dalian branch represents Citi's eighth branch in China. The announcement was made in Dalian on 6 September at a ceremony attended by Mr. Xia Deren, Mayor of Dalian, Mr. Dai Yulin, Vice Mayor of Dalian, Mr. William Rhodes, Senior Vice Chairman of Citi, Chairman, President and CEO of Citibank, and Mr. Richard Stanley, Chairman of Citibank (China) Co., Ltd. and CEO of Citi China. Mr. William Rhodes said, “Citi is delighted to be consolidating our presence in Dalian with the opening of a new branch. With its excellent infrastructure and outstanding support for foreign investment, the thriving city of Dalian represents a key city for Citi’s expansion plans in China.” Mr. Richard Stanley, said, "Citi remains deeply committed to pursuing organic growth in China, and the opening of our Dalian branch reflects the growing momentum of the Citi franchise in China. There is high demand here for banking and wealth management services, and we are dedicated to bringing world-class products and services to companies and individuals in Dalian." The new branch will offer a comprehensive range of RMB and foreign currency products and services to multinational and local companies, Chinese residents and foreign nationals as regulations permit. In addition to general banking services, the branch will also offer CitiGold, Citi's world-renowned wealth management service. CitiGold provides customized banking products and services to enable customers to realize their wealth management goals. The branch will also provide services designed to meet the needs of corporate customers, such as cash management, electronic banking, structured corporate finance, and research services. Citi currently maintains two operational centers in Dalian. Citicorp Software and Technology Services (Shanghai) Limited (“CSTS”) provides software development and technology support for Citi businesses worldwide. The company is headquartered in Shanghai with a branch in Dalian. Citigroup Data Processing (Shanghai) Co., Ltd. (“CDP”) was established in 2007 in Shanghai. CDP provides financial back office operation services to Citi's customers in the Asia-Pacific region, including China, Hong Kong, and Japan. The new branch is expected to open in late 2007.
Dalian Cultural Hall to undergo renovations
After the New Year Concert, held January 1, 2008 at the Dalian Cultural Hall, the historic building at 8 Zhongshan Square will undergo significant renovations, and will re - open in April with expanded offerings.
Watch for an interview with the conductor of the Dalian Symphony in the next issue of Focus Dalian.
Disclaimer
Press trust of China
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