Some prof comments in the paper.
Abstract
[Block abstract paragraph.] Citigroup, a world renowned financial institution, faced many challenges over the more than 100 years they have been embarking on the monstrous Chinese financial market. Unlike many of the developing and developed countries in the world, China puts forward some of the most challenging environmental hurdles to overcome for entering businesses. This paper will show how Citigroup's environmental adaptability within China's complex environment succeeded and positioned them as the number one foreign financial institution.
Taking Sides ? Citigroup in Post-WTO China
Citigroup, driven mainly by its division Citibank, has shown exceptional environmental adaptability within China. Challenged by China's stringent political oppression and stagnate indigenousness financial institutions, Citibank's steadfast commitment to market penetration was lead by the following adaptability strengths.
?-[Alphanumeric list format required.]Global Presence ? Citigroup has a strong global network of political, financial, and business players who influence global business decisions. "When a multinational company wants to enter an emerging market it calls its lawyers, its accountants, the embassy and Citibank." (Conklin, 2002)
?-First to market ? Citigroup has had a presence in China since 1902. There is a sense of goodwill and localization having had a presence for over a century. Additionally, Citibank was the first foreign bank licensed to participate in a limited number of banking services, like corporate and foreign-invested enterprises, this also only applied to a few Chinese cities. Citibank was also the first foreign bank to receive "approval for foreign currency dealings with Chinese cust ...