EconomyForeign banks cut China branches as low returns test strategy

Nearly two decades after receiving approval to offer yuan services to local clients, foreign-funded banks are still adjusting their China strategies. With state-owned lenders dominating the sector, Citi has left retail banking in China, while other foreign banks close branches and sub-branches and focus on digitalisation, wealth management and core clients. Deutsche Bank (China) announced a closure.

foreign banksChina bankingbranch closures

SSouth China Morning Post★★☆☆☆2026-10-17 02:00Original