Li Guohua, president of the China Post Group Corporation met with Michael Corbat, CEO of Citigroup Inc. in Beijing on September 15.
The two exchanged ideas on the world’s economic situation and on strengthening communication and exchanges between the two groups in the future.
Li, who is also deputy secretary of the Communist Party Committee of China Post Group, spoke about the development of the Postal Savings Bank of China in recent years.
Li said since its re-opening for business in 1986, the Postal Savings Bank of China (PSBC) has built a financial service network for individuals covering the whole nation, with the most widespread post office branches and the largest turnover. At present, the PSBC has 37,000 business offices for savings service, 45,000 business offices for exchange services and 20,000 business offices for international remittance services.
Li hoped the two sides would be able to strengthen their collaborations on corporate management, risk control, internationalization level, application of new technology and talent development.
Mr. Corbat said Citi pays close attention to the collaboration with PSBC. He hoped the two sides could take advantage of their respective strengths and collaborate more in the future to realize a win-win situation.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.