A few years after Citigroup shut down its personal banking operations in China, it made another significant announcement.
On September 5, Citigroup stated in a press release that, due to a gradual reduction in its personal consumer business with UnionPay in China, Citigroup (China) is no longer a member of UnionPay. However, the statement emphasized that the bank’s services for domestic and international payments for businesses and institutions remain unaffected. Citigroup also confirmed that it would continue to serve companies and institutions in China to meet their cross-border banking needs.
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