Citibank's China UnionPay qualification has been revoked.

The China UnionPay recently announced that it has terminated Citibank's membership, but did not disclose the specific reason. This means that Citi China will no longer conduct payment business through the UnionPay network. According to reports from Caixin, this adjustment directly led to the reduction of the number of foreign banks with UnionPay membership in China from 9 to 8. Currently, foreign banks holding UnionPay membership in China include HSBC, Standard Chartered Bank, Bank of East Asia, DBS Bank, Mizuho Bank, Deutsche Bank, Bank of Tokyo-Mitsubishi UFJ, and Hang Seng Bank.