中国银联：终止花旗中国成员资格！花旗中国回应

Core Viewpoint - The termination of Citibank's membership with China UnionPay has raised market attention, marking a significant shift in Citibank's operations in China as it focuses on corporate banking and exits personal banking services [2][3]. Group 1: Membership Termination - On August 27, China UnionPay announced the termination of Citibank (China) Co., Ltd.'s membership, which is linked to Citibank's closure of its personal banking operations in China [2]. - Citibank confirmed that its corporate banking services remain unaffected and it will continue to serve corporate and institutional clients in China [2][3]. - The termination was reportedly initiated by Citibank, which will no longer conduct payment business through the UnionPay network [2]. Group 2: Business Restructuring - In April 2021, Citigroup announced a global restructuring of its personal banking business, planning to exit personal banking in 14 markets, including mainland China [2]. - Citibank's CEO in China described the decision as a "difficult long-term choice" aimed at concentrating resources on more efficient corporate banking operations [2]. Group 3: Wealth Management Sale - In October 2023, Citibank announced the sale of its personal banking wealth management business in mainland China to HSBC [3]. - Citibank will cease the transaction functionality of its personal credit cards starting May 6, 2024, limiting their use for consumer payments [3]. Group 4: Workforce Adjustments - In June 2024, Citibank is expected to complete a significant workforce reduction, cutting approximately 3,500 technical staff in its global technology centers in Shanghai and Dalian as part of its 2025 financial plan [4]. Group 5: Leadership Changes - Citibank appointed Aveline San as the new chairman and director of Citibank (China) Co., Ltd., with a focus on leveraging its global network to provide international standard services to clients in China [5].