Citigroup Inc. has implemented for a securities license in China, in line with an individual conversant in the subject, because the New York-based banking massive eyes a larger presence on this planet’s second-largest economic system.

The financial institution lately submitted its software to the China Securities and Regulatory Fee, the individual stated. Citigroup could also be making plans to use for a futures license within the coming months and intends to rent round 100 folks in mainland China within the subsequent two years to beef up its growth onshore, the individual added.

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