C Nears China Brokerage License: Can Onshore Expansion Boost Growth?
Citigroup is on track to receive final regulatory approval for a wholly owned China brokerage business by September 2026. The platform will offer A-share brokerage, underwriting, research, and principal trading services, enabling the bank to deepen client relationships and increase its investment-banking wallet share above 6%. This expansion aligns with Citigroup's OneCiti strategy and repositioning toward institutional banking in China following the sale of its consumer banking business to HSBC in 2024.