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Citi Agrees to Sell Onshore Consumer Wealth Portfolio in China to HSBC

Citi Agrees to Sell Onshore Consumer Wealth Portfolio in China to HSBC
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HSBC announces acquisition of Citi China s consumer wealth business

HSBC announces acquisition of Citi China s consumer wealth business
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Citigroup to Sell China Consumer Wealth Portfolio to HSBC -- 2nd Update

By Sherry Qin Citigroup will sell its onshore consumer wealth portfolio in China to HSBC Holdings as the U.S. bank continues to leave consumer banking across parts of Asia. It will sell.

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Citi indicates that it has executed the first tranche of northbound trades with offshore investors through Swap Connect, the trading link for interest rate swap contracts between Hong Kong and the Chinese mainland

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Global firms eye opportunities, bolster presence

Despite rising external uncertainties, multinational companies remain committed to China as they plan to expand their local footprint and investment, and are impressed by the nation's latest commitment to high-standard opening-up and high-quality economic development, global business leaders said.

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