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Citi obtains approval for onshore fund custody business in China

Citibank (China) Co., Ltd. (Citi China) last Friday announced that it has secured approval from the China Securities Regulatory Commission (CSRC) to launch securities investment fund custody services onshore. The approval makes Citi China the first major global custodian permitted to operate a domestic Chinese fund custody business. Christine Lam, CEO of Citi China pointed out that its fund custody…

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