Barclays to tap into China's retail and commercial banking

British bank Barclays Plc is seeking opportunities to tap into the retail and commercial banking industry in China, sources quoted President Robert Diamond as saying on Thursday.

The bank will increase the investment in China mainly in the form of capital and staff this year, Diamond said, adding that it targets to be an active investor rather than a minor shareholder.

Currently, Barclays mainly focuses on wholesale and investment banking through its subsidiaries in China. Its existing business in the country saw an average increase of 40% annually in the recent five years, and it is expected to soar 15%-25% this year amid more fund injection in the country.

No details on the capital amount and the number of staff are available to date.