China, Financial Services, Good for Business, Investments, Lithuania, Technology

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 17:15

China interested in investment in payment services infrastructure in Lithuania

BC, Vilnius, 23.11.2015.Print version
China’s businesses are interested in possibilities to invest in payment services infrastructure in Lithuania, the governor of the central Bank of Lithuania has said, cites LETA/BNS.

Vitas Vasiliauskas will on Monday meet with the executives of IZP Technologies Group, China’s digital marketing and e-commerce firm, to discuss the company’s possibilities to make investment in Lithuania’s market for payments, the central bank said in a press release.

 

“Previous contacts with IZP Technologies Group have shown that we are interesting and we have what to offer to China’s finance and payment services business,” the press release quoted Vasiliauskas as saying.

 

According to Vasiliauskas, China’s companies pursue more efficient operations and faster expansion in Europe hence they may be interested in Lithuania’s market both as a final investment destination and as a waypoint on their way to the wider economic area of the European Union.

 

In June, the Bank of Lithuania and IZP Technologies Group, which owns Globebill, the largest cross-border payment operator in Asia, signed a memorandum of understanding on the development of payment infrastructure in Lithuania.

 

In September 2013, the central bank and China’s Securities Regulatory Commission reached an agreement on cooperation in securities’ regulation, which opened the way for Lithuania’s financial institutions to directly invest in China’s capital market.






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