Citibank (China) Co., Ltd. issued an important notice on Citibank's personal banking credit card business in mainland China on May 23rd, stating that Citibank's personal credit card business will be suspended from May 6th, 2024, and will no longer be able to be used for transaction purposes such as consumer payments. At the same time, the bank will gradually cease providing related product rights and services. The notice also emphasizes that this change is part of Citigroup's withdrawal from personal banking business in the Chinese market, and Citigroup's corporate business in China will not be affected. It is reported that Citigroup China has reached an agreement with Fubon Huayi Bank Limited ("Fubon Huayi Bank") to transfer to it the outstanding credit card installment repayment balance or outstanding amount ("Accounts Receivable Rights") that has not been settled since the cessation of Citigroup China's personal bank credit card repayment service.