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The company began operating in China in 1902, and by 1930 was one of the country's largest and most important banks. Citibank had branches in nine cities, but the emergence of the Communist revolution meant that those branches were subsequently closed. Citibank reopened an office in Shenzen in 1984 and slowly began to rebuild its base and reopen its ties with the Chinese government.
Adaptability and Failure to Overcome Environmental Factors
Citibank has been in the Chinese landscape and financial geography, essentially since the beginning of foreign investment and financial dealings in China...
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