Islamabad: Citibank N.A., Pakistan, in partnership with Citi’s China Desk organized its first China Day, a client event attended by top representatives of 15 Chinese corporations with extensive business interests in the country.
China Day was an opportunity for Citi's Global Subsidiaries Group (GSG), a focused client segment for Citi serving multinationals in more than 106 markets around the globe, to brief Chinese clients on the latest corporate banking, trade finance and treasury solutions, as well as furnish relevant economic research.
Based out of Dubai, Citi’s China Desk covers Middle East, North Africa, and Pakistan. The Desk caters to the increasing trade and investment flows coming into the region from China and provides close support to Citi’s Chinese clients. Working seamlessly with other China desks in the Americas, Europe, Africa, Singapore and Hong Kong, Citi’s China Desk in Dubai actively serves Chinese corporations within the Middle East and North African region, leveraging Citi's extensive network, global product platform and proven business model in serving global companies at home and abroad.
"China Day falls within Citi’s strategy to deepen our existing and time-tested partnerships with our valued Chinese clients around the world," said Mike Pendill, MENA Head, Citi's Global Subsidiaries Group (GSG). "Pakistan is an ideal trading hub and location of choice for global firms including Chinese firms and is further complimented by Citi's regional platform in Dubai, which offers fully integrated banking solutions to Chinese firms that operate in Pakistan."
Johnson Yuan, Corporate Bank Head, Citi China also spoke at length about Citi’s capabilities and the potential of Pakistan’s market, stating, "Through a dedicated banking team on the ground, we can deliver the full capabilities of Citi by facilitating opportunities and cross-border activities to Chinese multinationals active in the country."
China Day was organized ahead of the visit of the President of People’s Republic of China, Mr. Xi Jinping, to Pakistan. During his visit, he announced the creation of an economic corridor running from western China through Pakistan to the southern port of Gwadar. His visit saw the signing of investment agreements, for approximately $45 billion, for energy and infrastructure development projects.
Citi has been operating in Pakistan since 1961 and has contributed significantly to the financial services sector by delivering innovative and best-in-class products and services.
The event concluded with awards being handed out to the winning team, which consisted of representatives of Toyota Indus Motor Company Ltd.
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