Citibank on Monday launched a new consumer-banking outlet in Beijing, the 12th on China's mainland.

 

The outlet will offer a wide range of banking services, and will feature a number of Citibank products including the premium account, junior account, market-linked account and a foreign currency agreement deposit.

 

It will also feature Citi-RemEx, an express remittance service allowing customers to transfer funds from their personal accounts to accounts in Taiwan or Hong Kong within three hours.

 

New products and services will be added as regulations allow, the bank said in a statement.

 

Richard Stanley, Chief Executive Officer of Citigroup China, said, "It is exciting to open a new Citibank outlet in Beijing's dynamic and growing central business district, and we look forward to playing an active role in the district as we continue to deliver innovative products and services that meet the needs of Chinese consumers."

 

Citigroup, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services.

 

Citigroup first established an office in China on May 15, 1902, in Shanghai.

 

(Xinhua News Agency March 28, 2006)