(7 September 2021 – Singapore) Citi Commercial Bank (CCB) has set up a China desk in Singapore, helping emerging Chinese companies to expand into the city state and wider ASEAN region.
Mona Zhang, previously Parent Account Manager for mid corporates in CCB China’s office, is leading the desk. Zhang brings a wealth of knowledge and experience in understanding the business landscape in China and serving the needs of Chinese corporates.
CCB’s Asia desks provide clients with a full suite of banking solutions, alongside an understanding of the local operating and regulatory environment, as they tap into opportunities outside of their home markets.
“Singapore and the broader ASEAN region are key markets for growth for expanding Chinese emerging corporates. A majority of these clients set up holding companies in Singapore for their ASEAN units,” said CCB ASEAN and Singapore head Lin Hsiu-Yi.
Citi said its revenue from supporting client activity and flows from China to Singapore more than doubled last year compared with the previous year. The number of China-based clients that the bank works with in Singapore grew 35 percent last year.