Citi has been in China since 1902, and today China remains one of our priority markets in the world. Citi China's customer base spans multinational corporations, top-tier local corporations, State-owned enterprises, financial institutions, middle market enterprises and small and medium enterprises, as well as retail customers.
Today Citi is a leading international bank in China with operations in 13 cities across China, including Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Chengdu, Hangzhou, Dalian, Chongqing, Guiyang, Nanjing, Changsha and Wuxi. Citi also has four lending companies in underserved regions in China under Citi Credit. In addition to financial services, Citi is introducing technology expertise to China through our centers of excellence, in the areas of technology and data processing. Citi has a securities joint venture in Shanghai called Citi Orient Securities Co., Ltd., of which we hold a 33 percent stake.
In 2007, Citi was among the first international banks to locally incorporate in China. Our local subsidiary is known as Citibank (China) Co., Ltd.
Citi is committed to China and our strategy aligns with our global strategy, which is to bank a well-defined, target set of companies and individuals who benefit the most from our global capabilities and suite of products and services. As we do so, we hope to continue generating tangible benefits for Chinese consumers, Chinese companies and the Chinese banking sector itself.