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International Internet Magazine. Baltic States news & analytics Friday, 07.08.2020, 20:51

China's IBS aiming to found settlement center in Lithuania

BC, Vilnius, 17.10.2016.Print version
Lithuania has been chosen as the location for one of two settlement centers between the European Union and China due to broad attitude of Lithuanians, friendly bureaucrats and recommendations of Chinese companies investing in Klaipeda, says LETA/BNS Luo Feng, CEO of Hong Kong's financial technologies company International Business Settlement (IBS).

"In Europe, we chose two countries for the purpose, namely, Lithuania and the United Kingdom. We chose one or two countries in every region. However, we have three centers in Africa – Djibouti, Togo and Ethiopia. However, our business model is different in Africa – our focus there is not just on international transfers but also on banking services for Chinese companies," said Feng.

In his words, Lithuania was chosen due to flexible and broad attitude. Another reason is the support demonstrated to the IBS idea by the central Bank of Lithuania, in addition to recommendation from one of IBS shareholders, China's transport, logistics, real estate and financial company, China Merchants Group, which invests in the Lithuanian port city of Klaipeda.



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