TD Holdings, Inc. (NASDAQ: GLG) (the “Company”), a commodities trading service provider in China, today announced that the Company, through its wholly owned subsidiary Hainan Baiyu Cross-border E-commerce Co., Ltd. (“Baiyu”), entered into a trade cooperation agreement (the “Agreement”) with the management committee of the Yangpu Economic Development Zone, Hainan’s largest economic zone and China’s first national-level development zone to be comprehensively developed by foreign investors, enjoying preferential policies for bonded zones, to expand the Company’s commodity trading business. The Agreement shall be in effect until December 31, 2022.
Pursuant to the Agreement, the Company agreed to commence its commodity trading business in the Yangpu Economic Development Zone and the management committee of the Yangpu Economic Development Zone agreed to grant the Company preferential policies including tax relief, financial support, rental subsidies, etc.
Ms. Renmei Ouyang, the Chief Executive Officer commented, “We are excited to partner with Hainan’s largest economic zone as we will have access to preferential policies. Looking forward, we are confident to enhance the leading market position in Hainan and explore entering more trading fields. We plan to explore the Southeast Asian market through our cross-border e-commerce business and increase our brand awareness in the commodity trading market there.”
About TD Holdings, Inc.
TD Holdings, Inc. is a service provider currently engaging in commodity trading business and supply chain service business in China. Its commodities trading business primarily involves purchasing non-ferrous metal product from upstream metal and mineral suppliers and then selling to downstream customers. Its supply chain service business primarily has served as a one-stop commodity supply chain service and digital intelligence supply chain platform integrating upstream and downstream enterprises, warehouses, logistics, information, and futures trading.