... there since 1902. However, as a result of the communist revolution in China those branches were closed. With the first liberalization phase launched by Deng Xiaoping, Citibank was one of the first foreign banks to reach anew the Chinese shores. Both this specific ability to deal with high-risky markets and this first-coming policy give the bank the opportunity to develop an efficient and well-rooted network in China. Consequently, the bank can boast of having a real top-of-mind brand in its services in around the world. Citibank had a record of success in less developed countries such as in the African countries, and had developed certain competitive advantages that might be the basis for success in china. First, according to Conklin (2006), at the beginning Citibank's strategy in China expansion is through merger and acquisitions instead of joint venture. Citibank believed that most Joint Venture would give an institution ...

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