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Citi says China-US corridor revenue rose amid trade friction
Citi reported a 44.0% year-on-year revenue surge across its China-US corridor in the first half of the year, attributing it to firms using international banks for FX hedging and trade exposure management.
Escalating US-China trade friction has not slowed corporate activity between the two economies, with Citi pointing to steady growth in its North America-China corridor as mainland firms adopt risk-hedging strategies, according to SCMP Economy. Citi said its China CEO Zhang Wenjie told a media briefing in Hong Kong that the bank’s revenue on the China-US corridor did not decrease, citing a 44.0% year-on-year revenue surge in the first half of the year. Zhang said North America remains a vital market, and Chinese enterprises have increasingly turned to international banks to execute foreign exchange hedging, manage trade exposure, and reconfigure capital flows as they navigate complex supply chains. Citi also described the resilience as part of what it calls a “Going Global 3.0” phase, noting that Chinese firms are exporting advanced technology, localized supply chains, and high-value innovations that contribute to host countries’ development.