Posted by: mulrickillion | February 7, 2012

Citigroup to issue China credit cards

By Paul J Davies, Financial Times, Feb 6, 2012 —

Citigroup will become the first western bank to issue credit cards in mainland China under its own brand after it won approval to launch the business from the China Banking Regulatory Commission.

The move is another foot in the door for Citi on the mainland after it also won preliminary approval in January to set up a joint-venture securities firm with Orient Securities, which will be based in Shanghai and licensed for investment banking business. . . .

Citigroup to issue China credit cards – FT.com

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