China and Japan have had their problems over the millennia and gone in completely opposite directions when it comes to certain issues. This is good news for Vikula. For the first time in what has seemed like millennia, somebody out there wants more Citigroup- and not just as a short-term equity holding. While Japan has been sanctioning Citi for lack of fraud oversight, China wants Vik & Co. to show the billion-plus would be customers why the government's stake in C was an investment, not a bailout.
Citigroup's China unit was "very prudent and careful" amid the global financial crisis and now should be "expanding, absolutely," Yan Qingmin, director of the Shanghai branch of the China Banking Regulatory Commission and one of the top regulators for foreign banks in the country, told The Wall Street Journal in an interview.
Apparently there really is an appetite for risk in the emerging markets.
China Wants Citigroup to Expand [WSJ]