November 13, 2023

On September 2, 2023, Fengtai District officially signed contracts with TTMFS (Thunes) Yifuda Network Technology Services (China) Limited and China Logistics Group Capital Management Co., Ltd. at the China International Fair for Trade in Services (CIFTIS). The total value of the two deals amounts to CNY 6.1 billion.

On the same day, the "Beijing Day" Coordinated Investment Attraction Session of Beijing-Tianjin-Hebei Region and the Invest Beijing Global Summit were also highlights. Taking these opportunities, Fengtai District introduced its proactive integration into the coordinated development of the Beijing-Tianjin-Hebei region, emphasized its innovative approach in creating a new model of "headquarter base + coordinated expansion area", and fully showcased its development advantages in location, transportation, industrial space, business environment, and other fields.

Of the two companies that signed contracts on-site, TTMFS (Thunes) is a Singapore-based B2B firm that provides full-scenario cross-border payment services for enterprises worldwide. After signing the contract, it will establish a wholly-owned subsidiary in Fengtai as its regional headquarters in China. This new entity plans to set up a cross-border payment platform and transmission center, with an initial registered capital of CNY 100 million. It is reported that TTMFS (Thunes) supports currencies from more than 80 countries and regions, enables cross-border payments in 130 countries and regions, and supports over 285 payment methods. The other company involved, China Logistics Group Capital Management Co., Ltd., is a wholly-owned subsidiary of China Logistics Group Co., Ltd. and was registered in April this year in Lize Financial Business District, with a registered capital of CNY 6 billion.

(Source: Fengtai, Beijing)