Citigroup is reportedly planning to recruit several dozen employees for the fully owned brokerage operation in mainland China in the coming months, aiming to increase staff numbers to about 100 by year-end. The US lender applied for the licence in late 2021, seeking to conduct A-share brokerage, underwriting, research, and principal trading in China's onshore market. Sources suggest final approval may coincide with Chinese President Xi Jinping's scheduled trip to Washington for talks with US President Donald Trump in late September.