TD Holdings, Inc. Inks Partnership Agreement with the Management Committee of Yangzhou Economic & Technological Development Zone
TD Holdings, Inc. (Nasdaq: GLG) has signed a strategic cooperation agreement with the Yangzhou Economic & Technological Development Zone in China. The agreement facilitates the establishment of a wholly-owned subsidiary, Yangzhou Baiyu Venture Capital Co., Ltd., which will receive various preferential policies including financial and rental subsidies. The company plans to develop a blockchain payment and settlement platform to enhance online commodity trading, supporting multiple currencies such as RMB and Bitcoin. This initiative aims to improve service offerings to global trading clients.
- Strategic agreement with Yangzhou Economic & Technological Development Zone for a wholly-owned subsidiary.
- Access to financial subsidies, tax relief, and rental support from the Zone.
- Planned development of a blockchain payment and settlement platform for enhanced trading.
- None.
SHENZHEN, China, Aug. 4, 2021 /PRNewswire/ -- TD Holdings, Inc. (Nasdaq: GLG) (the "Company"), a commodities trading service provider in China, today announced that the Company has entered into a strategic cooperation agreement (the "Agreement") with the management committee of the Yangzhou Economic & Technological Development Zone (the "Zone"), a national level economic and technological development zone in China.
Pursuant to the Agreement, the Company agreed to establish its new wholly-owned subsidiary Yangzhou Baiyu Venture Capital Co., Ltd. in the Zone and the management committee of the Zone agreed to grant the Company preferential policies including financial subsidies, tax relief, financial support, rental subsidies, etc.
Ms. Renmei Ouyang, the Chief Executive Officer commented, "We are excited to partner with the management committee of the Zone as we will have access to preferential policies. Looking forward, we plan to launch a blockchain payment and settlement platform for online commodity trading through this newly established subsidiary. The platform is expected to provide customers with more payment and settlement options. We expect the platform to be designed to accept a variety of currencies including RMB, Bitcoin and other digital currencies. We expect to start offering a variety of payment and settlement options to provide quality services to global commodity trading customers."
About TD Holdings, Inc.
TD Holdings, Inc. is a service provider currently engaging in commodity trading business and supply chain service business in China. Its commodities trading business primarily involves purchasing non-ferrous metal product from upstream metal and mineral suppliers and then selling to downstream customers. Its supply chain service business primarily has served as a one-stop commodity supply chain service and digital intelligence supply chain platform integrating upstream and downstream enterprises, warehouses, logistics, information, and futures trading. For more information, please visit http://ir.tdglg.com.
Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of TD Holdings, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: there is uncertainty about the spread of the COVID-19 virus and the impact it will have on the Company's operations, the demand for the Company's products and services, global supply chains and economic activity in general. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
Ascent Investor Relations LLC
Ms. Tina Xiao
Email:tina.xiao@ascent-ir.com
Tel: +1 917 609 0333
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SOURCE TD Holdings, Inc.
FAQ
What is the strategic agreement announced by TD Holdings, Inc. (GLG) on August 4, 2021?
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