Citigroup says its not pulling out of China

<p>Chinese Communist Party media (Global Times) report:</p><ul><li>Citibank (China) issued a statement on Tuesday refuting recent false reports and misleading statements circulating on social media platforms regarding “Citibank's exit from the Chinese market.” </li><li>“The reports contain exaggerations and are not accurate,” Citibank said, emphasizing that it is strategically adjusting its consumer banking operations globally, including the gradual discontinuation of its consumer banking business in the Chinese mainland. </li><li>This adjustment does not affect its corporate and institutional client services, and Citibank remains committed to the development of these sectors in the Chinese mainland.</li></ul><p>Citibank is more correctly referred to as Citigroup.</p>

This article was written by Eamonn Sheridan at www.forexlive.com.