Citigroup Expects China Brokerage Approval by September 2026

Citigroup expects to receive regulatory approval for its wholly-owned mainland Chinese brokerage unit as soon as September 2026. The bank first applied for the license in late 2021 to expand its operations within China's onshore securities trading and underwriting markets.

To support the launch, the bank plans to double the unit's headcount to approximately 100 employees by the end of the year using a combination of external hires and internal transfers. The new unit will focus on principal trading, research, and A-share brokerage, specifically targeting the AI, healthcare, and technology sectors.

This expansion places the firm in direct competition with other licensed U.S. institutions, including Goldman Sachs, JPMorgan, and Morgan Stanley. The move comes as Beijing continues to grant Wall Street firms more access to attract capital inflows despite ongoing geopolitical tensions. The timing of the approval may coincide with a planned meeting in late September between U.S. President Donald Trump and Chinese President Xi Jinping in Washington.