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Citibank Inks Deal
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Citibank NA, a unit of Citigroup Inc., signed an agreement with China Galaxy Securities Co. that may eventually allow the world's biggest financial services company to help underwrite share sales in China, Bloomberg News reported. Galaxy, China's largest brokerage, and Citibank will exchange training, product development, marketing help and research and will "explore further areas of cooperation" pending government approval.
Foreign financial institutions recently received permission to own as much as a third of brokerages through ventures with local companies.
(eastday.com April 09, 2002)
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In This Series
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Archive
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