Citibank (China) Co said yesterday it has gained approval from the China Banking Regulatory Commission to open a branch in Chongqing, which will be Citi's ninth branch on China mainland, in the second half of this year.

"China remains one of Citi's highest priority markets anywhere in the world and we are strongly committed to expanding our presence throughout China," said William Rhodes, senior vice chairman of Citigroup and Citibank. "Our business in China is performing well and we are delighted to be in a position to open a new branch in the important city of Chongqing."

(Shanghai Daily July 29, 2009)