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Citigroup plans to incorporate China business locally - report.
(From AFX Europe (Focus))
BEIJING (AFX) - Citigroup Inc said it plans to incorporate its China operations locally as soon as regulators allow, in order to meet a government requirement on the conduct of local currency retail banking, the Wall Street Journal cited a company spokesperson as saying.
Citigroup's intention follows similar announcements by HSBC Holdings PLC and Standard Chartered PLC, which said this month that ...
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