Off the wire
• Obama says U.S. not cured of racism  • UK sees more centenarians in past 20 years: study  • Over 400,000 young Austrians at risk of poverty in 2014  • Doctor leader complains about lack of fund in UK National Health Service  • EU expresses commitment to strong ties with central Asian countries  • Interview: Experts expect annual U.S.-China dialogue to serve triple purpose  • Hopes for Greek debt deal in Brussels Monday summit fade, Athens stock market remains upbeat  • Feature: Terror attacks and refugees, Nigeria's scars waiting to be cured  • Indian PM condemns Taliban attack upon Afghan parliament  • Tobruq Legacy air defence exercise starts in the Czech Republic  
You are here: 　 Home

China's payment operator IZP Technologies to develop services in Lithuania

Xinhua, June 23, 2015 Adjust font size:

Asia's largest cross-border payment settlement operator IZP Technologies Group plans to establish its activities in Lithuania, the company together with Lithuania's central bank announced on Monday.

The Bank of Lithuania and China's IZP Technologies Group signed memorandum of understanding which indicates intensifying trade relations between Lithuania and the world's second largest economy, Lithuanian officials stressed.

"Europe's intensifying trade relations with the world's second largest Chinese economy lead to the need for the development of payment and settlement infrastructure in the region," Marius Jurgilas, board member of the Bank of Lithuania, was quoted as saying in the bank's statement.

"The cooperation will facilitate the trade between Lithuania, and even the whole Europe, with China, and will lower the cost of doing business," Luo Feng, Chairman of the Board and President of IZP Technologies Group, told Xinhua on Monday.

Lithuanian President Dalia Grybauskaite welcomed the growing mutual interest for closer economic cooperation between China and Lithuania.

"We should exploit the potential of cooperation with one of the largest economies in the world; it will advance our economic growth and the well-being of our people," Grybauskaite was quoted as saying in a separate statement on Monday.

According to Lithuanian central bank, the IZP Technologies Group's affiliate Globebill is considering the possibility to develop financial services business in Lithuania. Endit