Citigroup CEO: Foreign capital shows strong interest in China, Citigroup's business in China is growing rapidly

Citigroup (C.US) CEO Jane Fraser stated that as investors and companies show strong interest in China again, Citigroup's business in China is growing rapidly. Meanwhile, Chinese companies and investors are also paying more attention to overseas markets.

In recent years, Citigroup has exited retail banking operations in places like China and India, while also cutting about 3,500 technology staff in China. Fraser emphasized that the company is not shrinking its operations but is actively capturing market share, focusing on serving Chinese companies seeking overseas expansion and clients with cross-border needs.

Data provided by Citigroup shows that so far this year, the bank has raised over $250 billion for clients in global capital markets, including nearly $30 billion for Chinese clients. Citigroup expects strong demand for equity and bond issuance in the Asia region, with Hong Kong, mainland China, and India leading trading activities, and the scale of IPOs in India could reach up to $20 billion in the next 12 months