Continuing its expansion across key cities in China, Citibank has announced the opening of three new consumer outlets in Beijing, Tianjin, and Shenzhen. With the new branch openings, Citibank now has 16 outlets in China.

All three sub-branches are full service outlets that will provide foreign currency and RMB products and services as permitted by current regulations. Time deposits of RMB1 million or higher will be available to Chinese citizens at the new Beijing and Shenzhen outlets.

Services offered at the new outlets include CitiGold, designed to provide world-class wealth management services. The CitiGold offering features team-based relationship managers for personalized banking products and services, access to global research & dedicated information channels, unique proprietary tools such as CitiGold Financial Needs Analysis, and membership rewards and privileges.

Other service offerings include Citi-RemEx, which allows customers to transfer funds between accounts in Citibank mainland China and Citibank Taiwan or Hong Kong within three hours; Citibank Global Transfer, a platform that enables customers to transfer money instantly between accounts in Citibank across countries; and a comprehensive range of investment products, as well as mortgage loans and insurance agent business.

In addition, new products and services will be added as regulations permit.

These openings add to the growing momentum of our business in China, and as we continue to invest for the future we fully expect to have many more in the coming years, commented Lee Ah-Boon, country business manager for Citibank China.

Citibank’s consumer network in mainland China currently comprises 16 outlets, located in Shanghai, Beijing, Guangzhou, Shenzhen, Tianjin, and Chengdu. Citigroup has also been granted approval to open a new branch in Hangzhou, which will be opened early in 2007, pending the completion of the company’s local incorporation in China.