Recently, China UnionPay announced that China UnionPay Co., Ltd. has terminated the membership of Citibank (China) Limited.
According to Jiemian News, Citibank China stated that with the closure of its personal banking business, it will no longer be a member of China UnionPay. The domestic and foreign payment and collection services for Citibank's corporate business are not affected at all. Citibank continues to focus on the Chinese market, serving enterprises and institutional customers and meeting their cross-border banking needs.
In December 2022, Citibank announced that it would gradually close its personal banking business in mainland China, but this does not involve Citibank China's corporate institutional customer business.
This May, the Chairman of Citibank Group, Du Song'an, stated that Citibank will continue to deepen its presence in the Chinese market, and is willing to further strengthen investment and cooperation with China, actively laying out new businesses in areas such as securities, futures, and financial derivatives in China.
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