Source: CCTV.com

11-25-2008 09:58

Before that announcement over the weekend, Citigroup shares had been in a veritable freefall. But an analyst from the State Council's Development Research Center explains why there is no need to worry about the company's China operations.

Citibank China is operating smoothly. (Photo: sina.com)

Ba Shusong, Vice Director of Finance Research Institute of DRC said "Citibank China is an independent legal entity run according to Chinese laws and regulations. It is under the strict supervision of Chinese banking regulators, any big movement must be approved by China's financial watchdog. The bank is still operating smoothly."

Editor:Xiong Qu