CPP Cooperates with the Management of ChinaPay and Paraguay Amazon Investment Groups to Construct and Promote Cross-border Trading Payment and Settlement Platform

HONG KONG, Jan. 4, 2016 /PRNewswire/ -- On 28 December in the afternoon, Mr. Cheng Yuanzhong, chairman of China Public Procurement Limited (HKEx stock code: 1094, "the Company" or "CPP") and Guocai Science & Technology Company Limited, met in IFC Beijing with Mr. Sun Zhanping, general manager of ChinaPay, and Mr. Xie Fulin, chairman of Amazon International Investment Groups Company Limited ("Amazon Investment Groups"). The meeting was joined by Mr. Du Shengfeng, chief executive officer of Guocai Science & Technology Company Limited and chairman of Yi'an Tongbao Electronic Commerce Limited, and Mr. Zheng Jingwei, chief executive officer of CPP, to discuss the tripartite collaboration in relation to the expansion into the common market in South America in terms of the integration and construction of cross-border trading platform and the promotion of cross-border payment and settlement, with a view to furthering the development of cross-border trading. A general consensus in favor of cooperation was reached.

At the meeting, Mr. Cheng expressed his welcome and gratitude for Mr. Sun Zhanping, general manager of ChinaPay, and Mr. Xie Fulin, chairman of Amazon Investment Groups, who made such a distant trip on behalf of ChinaPay and Amazon Investment Groups for the first time for business negotiation which may lead to further cooperation. Mr. Xie then introduced the basic information on the South American market and the background of the Amazon Investment Groups. It was shown that the Union of South American Nations is a regional commonwealth comprising of 12 South American countries, with GDP exceeding USD 4 trillion; Amazon Investment Groups possesses both governmental linkages and market resources in the area. Mr. Sun presented on Chinapay's commencement of business in Brazil, and gave a comprehensive account of the demand of cross-border trading and payments between Union of South American Nations and China, as well as the institutional requirements over and barriers relating to banking activities and foreign exchange control imposed by the local government. It was unanimously agreed at the meeting that the promotion of global public procurement, cross-border payment transaction and settlement businesses should be accelerated in order to benefit from the "One Belt One Road" liberalization strategy and the joining of the Government Procurement Agreement (GPA) by China. It was deemed possible in the framework of each of the cooperation agreements for the existing subsidiaries to CPP to collaborate with ChinaPay and Amazon Investment Groups, with the possibility of introducing other South American business partners, to use countries such as Paraguay as a stepping stone to integrate and develop in the short run a cross-border trading and transaction electronic platform, and to open a payment gateway between South America and mainland China, Hong Kong and Taiwan with an estimated handling volume of over 10 billion USD. The parties will then collaborate with local banks to offer ChinaPay bill acceptance and card issuance in order to serve international enterprises and merchants as well as overseas Chinese nationals in a bid to explore the South American market and other international markets.

It is understood that ChinaPay is a subsidiary of China Union Pay Limited specialized in Internet businesses, a licensed corporation for third-party payment as a non-financial institution approved by the State Administration of Foreign Exchange as a foreign currency cross-border pilot organization and by the People's Bank of China for Renminbi (RMB) cross-border businesses. It is committed to offering efficient, secure and quick payment services for local and international merchants of various industries.

Amazon Investment Groups is an enterprise registered in Paraguay and Hong Kong. It is the head unit of the Paraguay-China Commercial Chamber, and is the only institution authorized by the Paraguay government to conduct financial and trading activities in China.

About China Public Procurement Limited

China Public Procurement Limited is listed on the Main Board of The Stock Exchange of Hong Kong (stock code: 1094). The Group is principally engaged in the development of the public procurement services which involves the provision of procurement services to general public and government in the PRC, and the development of EMC service.