Citi launches free trade accounting unit business in China SFTZ

Facilitating the cross-border business of their clients and contributing to the ongoing financial reform in China

Citibank (China) Co. has launched its free trade accounting unit (FTU) business in its Shanghai Free Trade Zone (SFTZ) sub-branch.

With the FT account, Citi’s corporate clients will be able to further save on costs and better manage cross-border risks, through a new services including:

• cross-border treasury management
• investment and fund raising innovations
• FX and interest derivatives products.

New user and financial innovations

A leading industrial manufacturer Danfoss has partnered with Citi in launching its global renminbi settlement centre in the SFTZ. 

Since its establishment, Citi’s SFTZ sub-branch has pioneered a number of financial innovations through capitalizing latest regulatory policies in the zone, including the first automated renminbi cross-border sweeping from China to London, and the first automated renminbi and FX cross-border pooling and treasury centre solution.