YIWU, CHINA / SINGAPORE – Media OutReach – 12 November 2018 – UNPay, a global fintech open service platform and Zhejiang China Commodity City Group Co., Ltd., a listed company and market leader in the field of Chinese trade, jointly announced that they have signed a strategic partnership agreement to develop the city of Yiwu into the leading cross-border financial centre in China.
L to R: Mr Kenny Li, General Manager of UNPay’s cross-border business unit and Mr Gong Chenghao, General Manager of Yiwu Mall Group Information Technology Co at the signing ceremony
Held in Yiwu Xinghu International Conference Centre, the signing ceremony was attended by government officials including Mr Lin Yi, Yiwu’s Municipal Party Committee Secretary and Mr Chen Xiaozhong, Yiwu’s Executive Deputy Mayor. Mr Kenny Li, General Manager of UNPay’s cross-border business unit and Mr Gong Chenghao, General Manager of Yiwu Mall Group Information Technology Co. signed the partnership agreement on behalf of the two companies.
Yiwu, a city located in central Zhejiang province, is renowned for its small commodity trade and vibrant market. It has the world’s largest small commodity wholesale market, and is the biggest consumer goods distribution centre worldwide. Zhejiang China Commodity City Group Co., Ltd. develops, manages, and provides services for commodities trading platforms in Yiwu.
As the world’s first open platform to provide a comprehensive suite of payment solutions, UNPay will work closely with Zhejiang China Commodity City Group on various areas to augment its reputation as a top small commodities trading market. These include payment collections, cross-border exchanges, global transfers, credit financing, and cross-marketing activities.
Yiwu Secretary, Mr Lin Yi, and his party, first visited UNPay’s office in Beijing last month. During the meeting, Secretary Lin saw potential in UNPay’s vision and capabilities and recommended Zhejiang China Commodity City Group to work with the latter in developing Yiwu into a leading hub of international trade. Secretary Lin observed that with cross-border payment at the core of international trade activities, it is imperative to work with a company that has an extensive payment network. Doing so will help propel Yiwu into the global limelight as a best-in-class online and offline trading platform.
Zhang Zhenghua, founder and CEO of UNPay, expressed, “Currently there is no platform in the world that truly supports a one-stop global payment and financial service platform for cross-border e-commerce and foreign trade. If the existing cross-border trade transaction model can be optimised into an offline cooperation, with online trading and payment, a new cross-border O2O ecosystem will be established.”
Mr Zhang added, “In future, UNPay will also deepen its cooperation with Yiwu Municipal Government and Yiwu Mall Group on the Belt and Road Initiative, by harnessing its fintech capabilities to transform Yiwu into the small commodity capital of the world.”