Citi first established presence in China in 1902 and became one of the first global banks to be incorporated locally in 2007. Today, Citi serves China’s biggest and most promising companies and institutions, including 70% of Fortune 500 companies in the market, as well as over 300 leading local enterprises and many more emerging new economy companies.
Country Leadership
Wenjie Zhang
CCO and Head of Banking; President of Citibank (China) Co., Ltd.
Citigroup Tower, No.33 Hua Yuan Shi Qiao Road, Lu Jia Zui Finance and Trade Zone, Shanghai, 200120, P.R. China
History of Citi China
1902
The International Banking Corporation (IBC) opened a branch in Shanghai. The bank was known as the Hua Qi or “Flower Flag” Bank locally because the stars on the American flag that flew atop the branch looked like representations of flowers to the local community.
1920
The Bank was one of the major foreign banks in China.
1983
Established an office in the Shenzhen special economic zone of China.
1991
Became the only U.S. bank with a branch in Shanghai.
1993
Citi was the first international bank to move its China headquarters to the mainland from Hong Kong.
2003
Received approval from People’s Bank of China to provide custodial services for Qualified Foreign Institutional Investors (QFII) in China.
2005
Citigroup Tower in Shanghai became the headquarters for China franchise and opened a China Consumer Flagship Branch in the tower.
2006
Citi launched its first annual Global Community Day. Over 50,000 Citi China volunteers have participated in over 500 volunteering activities, contributing about 160,000 hours to the communities we live and work in, during the past 20 years.
2007
Granted approval by the China Banking Regulatory Commission to commence operations as a locally incorporated bank, one of the first foreign banks to do so.
2009
Received regulatory approval to act as an Interbank Bond Market Maker.
2013
Became one of the first two global banks approved to establish a presence in the Shanghai Free Trade Zone in China.
2018
Awarded Futures Margin Depository Bank license by China Financial Futures Exchange, enabled Citi to provide futures margin deposit service to our QFII and RQFII clients with a complete market access solution for China.
2019
Became the sole foreign bank in Shanghai and the Greater Bay Area to obtain approvals from SAFE (State Administration of Foreign Exchange) to carry on the Trade Facilitation Pilot Scheme.
2020
Became the first American bank to secure a domestic fund custody license from the China Securities Regulatory Commission (CSRC), and was first bank among the top 5 global custodians to do so.
2023
Received approval from Shanghai Futures Exchange and International Energy Exchange to become the first US bank with the license to act as a Futures Margin Depository Bank.
2024
Became the first foreign bank to implement the Forex Simplification Program by China State Administration of Foreign Exchange.
Recent Awards and Recognition
The Asset
2022-2024 Best Bank for Sustainable Finance
2023-2024 Best Commercial Bank
2015-2021 Best Bank in China - Global
Asiamoney
2022 Best Investment Bank in China
2019-2021 Best International Corporate and Investment Bank in China
FinanceAsia
2025 Best Bank for Public Sector Clients | International
2024-2025 Best Corporate Bank - Large Corp & MNCs | International
Fortune
Fortune China’s 2025 ESG impact list
Fortune China’s 2024 ESG impact list
China Charity Festival
14 consecutive wins
Social Responsibility Conference
2025 ESG Outstanding Corporate Governance Award
2021 & 2024 Social Responsibility Honor Award - Excellent Enterprise
2022-2024 Sustainable Development Contribution Enterprise Award
2021 Social Responsibility Honor Award - Innovative Charity Award