On October 9, Citigroup China published "Important Notice on Citigroup's Personal Banking Wealth Management Business in Mainland China" on its website.。According to the Notice, Citi has recently signed an agreement with HSBC China to transfer its personal banking wealth management business in Mainland China, including accounts, deposits and related wealth management products (except insurance products) held by individual customers.。Citi said that in April 2021, the company announced a global strategic realignment and transformation, and has withdrawn from personal banking in multiple markets around the world.。The transfer of wealth management business of personal banking in mainland China is part of the strategic adjustment.。Citi expects the transaction to close in the first half of 2024.。In addition, other businesses of Citi China Personal Bank continue to be gradually shut down.。For example, the acquisition does not include the credit card business, but the credit card business is also within the scope of Citi's personal banking strategy and will be closed in the future.。