Our consumer banking business in China continues to invest strongly for long-term growth. On April 23, 2007,Citibank officially launched Renminbi products and services to local residents.
Citibank offers an increasingly wide array of products and services in China. These include:
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Savings, multi-currency deposits, step-up deposits and flexible time deposits
Local currency debit cards and mobile payment/banking services
Investment products including premium accounts, structured investment account, enhanced yield account, QDII structured notes, QDII offshore mutual funds (up to 7 fund houses) and QDII fixed- / floating bonds available in multiple currencies
Insurance, including Investment Management Plan, Elite Junior Plan, Protection Solution, Retirement Solution and Legacy Solution
Mortgage, including home loans, re-finance and home equity available in multiple currencies
Unsecured personal loans
Remittance services to allow customers to remit funds from Citi China to HK / TWN accounts in less than three hours, and a global transfers service to receive funds from Citi accounts in 20 selected countries to Citi China instantaneously |
DISTRIBUTION CHANNELS
By March 2011, Citibank had 36 retail outlets in China – 10 in Shanghai, 8 in Beijing, 3 in Tianjin, 2 in Guangzhou, 4 in Shenzhen, 3 in Hangzhou, 1 in Chengdu, 1 in Dalian, 1 in Guiyang, 1 in Nanjing and 2 in Chongqing. Central to our long-term vision for China is our plan to increase Citibank’s network in China, as regulations permit.
In addition to outlets, Citibank has more than 100 ATMs in China. The launch of Citibank Debit Card in China in 2008 has significantly expanded our distribution footprint, allowing customers convenient cash access to all China Union Pay (CUP) ATMs in China and overseas, and enabling POS purchases at CUP merchants outlets.
Citibank Online (
www.citibank.com.cn) is a service platform that provides customers access to banking services 24 hours a day, 7 days a week. Through Citibank Online customers can obtain information on our latest products, services and offers, view updated information on their accounts, view account statements, subscribe for e-mail alerts to monitor their accounts and investments, and transfer funds.
Citiphone is another service platform that provides 24 hour phone-banking services. Through Citiphone, customers can be connected to either our Citiphone offices or an Automated Voice Recording system to perform a wide range of functions.
