Citi urged to expand in China

A top Chinese banking regulator said US investment bank Citigroup
should "absolutely" be expanding its operations in the Asian giant,
according to a media report Wednesday. Citigroup's China unit was
"very prudent and careful" during the global financial crisis and
now should extend its network here, Yan Qingmin, director of the
Shanghai branch of the China Banking Regulatory Commission told the
Wall Street Journal.