Citibank has launched Renminbi services to Chinese corporates and residents in Guangzhou and officially opened a new consumer outlet.

"Since opening in 1998, the Citi team in Guangzhou has strived to ensure the best possible service experience for our customers. It is very pleasing to be building on the strong foundation we have created, as we broaden our offering to companies and retail customers through the launch of RMB services," Guangzhou Branch Manager Milson Lau said.

Citibank's second consumer banking outlet in Guangzhou, in Huan Shi Dong road, is a full service outlet, providing both foreign currency and RMB products and services to Chinese residents.

Citibank and CitiGold services are available at the outlet. Customers using the Citibank service, which requires a minimum balance of RMB80,000 or above, will be provided with a choice of a comprehensive range of services to manage their wealth. These include savings and investment products, such as the multi-currency deposit, flexible time deposit, premium account, and structured investment account; mortgage loans; insurance, with products designed to both protect and grow wealth; and remittance services, including Citi-RemEx, which allows customers to remit funds from Citi China accounts to Citi Greater China accounts within three hours.