By Charmian Kok
August 26, 2010 3:58 PM EDT
Citi said on Thursday it will open a China desk based in Singapore, in a move aimed at encouraging more Chinese firms with global expansion plans to set up business in the city-state.
The desk will include ten relationship managers and product specialists, as well as bankers from Citi's global subsidiaries group and global transaction services, the bank said in a statement.
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"With China being the third largest trading partner for Singapore, we are seeing a lot more Chinese companies using Singapore as a gateway to expand their business in the region," said Citi's country officer for Singapore, Michael Zink.
Citi will provide financial solutions that include cash management, trade services and finance, securities and fund services for its Chinese clients, it said.
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