Citigroup's Big Bet on China.

China is the final financial frontier for U.S. banks, as the country's protectionist measures begin to dissolve under WTO membership. Citibank, which has been offering corporate services on the mainland since 1902, is poised to grab a large share, particularly in retail banking. But will being the early bird pay off for this tenacious U.S. bank?

China has been beckoning Citibank for more than a century, but its lure has been irresistible since December, when the nation joined the World Trade Organization and pledged to liberalize its highly protected financial markets