CITI has announced the expansion of its China Desk global network with the launch of a second desk in Singapore.

The new Singapore-based China desk supports Citi’s Chinese clients using the island-state as the launch-pad to grow their presence in Asean on the back of investment trends led by the Belt and Road initiative. China’s FDI into Asean has grown to over US$9 Billion in 2016 from US$6.5 Billion in 2015.

“Being an integral player in the global markets, we see first-hand the opportunities that Belt Road initiative brings to our clients across our network and we recognize that Asean is of strategic importance to the success of Belt Road initiative,” says Amol Gupte, head of Asean and CEO of Citi Singapore.

The new desk in Singapore comprises 10 relationship and product managers. These specialists are equipped to provide Chinese clients the full suite of banking solutions such as in the areas of cash management, trade financing, hedging, FX solutions, and advisory services related to mergers and acquisitions, debt and equity offerings, and the understanding of local operating and regulatory environments as they grow their presence in new markets across the region.

Citi’s first Singapore-based China desk was launched in 2010 to serve Chinese clients investing into the country. Citi now has eight other China desks outside of the two in Singapore including Hong Kong, London, New York, Dubai, Johannesburg, Sao Paulo, Kazakhstan and Kenya.