Shanghai Citibank Research (1945-1956)

This paper analyzes the relevant documents and researches how Citibankreturning to Shanghai and reopening, how responding the foundation of thePeoplesRepublic of China, and why and how the bank quiting Shanghai.The paper is divided into four chapters, the first chapter introduces the basicsituation of Citibank in China and its reopening with complex background. Thesecond chapter analyzes the relationships between Citigroup and the relevanthistorical process, such as postwar Chinas economic and social recovery, the NationalGovernment, the Shanghai finance industry, found that Citigroup was driven by theinterests, was very positive on participating in the development of postwar Chinarecovery and not simply played the role of aggressor. Meanwhile Citigroup’s attitudetowards the Chinese revolution was negative. The bank continuously transferredassets from shanghai to oversea. The third chapter analyzes the bank’s main businessin Shanghai, such as trade finance and foreign exchange, deposit and loan services,business services. The fourth chapter discusses the evacuation process of ShanghaiCitigroup.After the world war two, as the representative of foreign banks in China,Citibank’s influence on China had declined significantly, but its position in theShanghai foreign banks had improved a lot and became the leader in Shanghai’sforeign banks. However, the outbreak of the civil war changed all, Citibank mustadapt and adjust itself and its impact on Chinese society had halted. However, as acommercial bank, its operation in China reflected a very high level of strategy, thebank could always seize the opportunity at the right time and avoid the risk in timethough the postwar China’s market was very complex.