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| Citi Foundation grants form a significant part of Citi's community investment in Asia Pacifiic. |
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| Citi China focuses on microfinance, small and growing businesses, financial and economic education, and the environment |
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| Business Presence |
| In 1902, Citi was the first American bank to establish operations in China. Today, Citi China has branches in eight cities, 25 consumer outlets, and employs approximately 4,000 staff. Key financial services provided include corporate and investment banking, consumer banking, and private banking. |
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| Citizenship History |
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Citi China has committed more than RMB79 million (US$10.5 million) in grants to support a range of community programmes in China.
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Over the last six years, Citi China has committed over RMB28 million (US$3.5 million) towards the development of microfinance in China, including funding the Citi Microentrepreneurship Awards www.chinamfi.net organised with the China Banking Association www.china-cba.net. Since 2005, over 700 microentrepreneurs from across China have applied for the Awards, and 43 have received first prizes and widespread recognition.
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Since 2005, forty universities and more than 200,000 students in China have benefited from the Citi Financial IT Education Programme funded by grants worth RMB8.6 million (US$1.1 million). This is the first project in China to cultivate much-needed IT talent to support the expansion of the country's finance sector, which is essential for sustainable economic growth.
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| Increasing the Success Rate of China's SMEs |
The small and medium enterprise (SME) sector plays a vital role in China's economic development. According to a 2006 report by the State Development and Reform Commission, there are more than 42 million SMEs in China, accounting for 75% of employment. However, the sector remains significantly underdeveloped because of structural changes that have taken place since China instituted its Open Door Policy.
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| Challenges include poor management skills, lack of technology and innovation, weak risk management and internal controls, and inefficient use of resources resulting in high energy consumption. These restrict the ability of SMEs to expand their operations and improve workplace and environmental practices. As a result, the average lifespan of SMEs in China is 3.5 years, compared to 5.5 years for SMEs in other countries. |
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Citi China has partnered with the School of Management at Fudan University, one of China's leading universities, to launch the Citi-Fudan SME Senior Management Training Programme www.fdms.fudan.edu.cn, the first of its kind in China to provide structured and comprehensive training for senior managers of SMEs.
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| In 2007, fifty SME senior managers from the Yangtze River Delta region attended a pilot training course. Subjects included Legal Environment and Practice in Modern Enterprises and Corporate Social Responsibility and Management Ethics. In addition, over 600 senior managers participated in two Citi-Fudan SME Senior Management Forums in Shanghai and Hangzhou. |
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| Professor Yang Yong Kang, Director, Executive Development Centre, School of Management, Fudan University, said, "The Citi-Fudan SME Senior |
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| Zhang Fengchun (left) attended the Citi-Fudan SME Senior Management Training Programme and is using his new knowledge to develop new managerial talent for China's logistics sector. |
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| Management Training Programme has been created specifically to address SME capacity challenges related to managerial skills and sustainable enterprise development. The pilot has been extremely well received. In addition to the new knowledge gained, course participants noted that it has given them a unique platform to interact with similar businesses, exchange experiences and learn from each other." |
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| As chairman of two logistics and electronic companies in Shanghai, employing around 200 people, Zhang Fengchun said, "SMEs are in a strong position to contribute to local communities. The logistics business in China has developed at a rapid pace in recent years, however there is relatively little experienced management in this sector. The Citi-Fudan programme has inspired me to provide training opportunities for my managers so they can contribute to the healthy development of the logistics sector in China." |
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| Zhang Yinhua, Chairman, Yangcheng Huaye Pharmaceutical & Chemical Company, which has over 300 employees, noted, "Being an environmentally-friendly company has been our focus since the company started in 1994. And the training at Fudan has equipped me with new knowledge to further promote clean production and energy efficiency." |
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| Over the next three years, 180 SME senior managers from the Yangtze River Delta region will benefit from the training, as well as 2,000 senior managers of SMEs who will participate in the bi-annual Citi-Fudan SME Senior Management Forums. |
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| For more information about Citi China and its citizenship activities, please go to: www.citibank.com.cn |
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