The new age of China-UK international financial cooperation unlocked with the first agreement signed by Lakala after the arrival of the Chinese business delegation

LONDON, Oct. 21, 2015 /PRNewswire/ -- As a warm-up of President Xi's visit to Britain, the 6th China-UK Internet Forum had kicked off in London. As a representative of the Chinese business delegation, Taoran Sun, President of Lakala, delivered a keynote speech and signed a cooperation agreement with Allpay Limited, the largest bill payment company in Britain, under the witness of the ministerial delegations from Chinese and British governments, declaring that a cross-border financial service platform will be co-founded in future. Also, the agreement has become the first to be signed after the arrival of the Chinese business delegation.

Photo - http://photos.prnasia.com/prnh/20151021/0861510027

It is reported that being a pioneering comprehensive Internet financial group in China, Lakala Group has cooperated with several European corporations on businesses involving Germany and British community convenience services, smart wearable devices and cross-border e-commerce. Today's cooperation between Lakala and Allpay Limited reveals that Chinese Internet financial companies is playing an important role in the international trade industry, while the visiting of  Chinese new generation of entrepreneurs, including Taoran Sun, indicates that technology and innovation has become the long-term power for China of being the engine for global economic development.

Lakala Group's business covers the sectors of Payment, Credit Checking, Credits, Financial Management, and Equity-based Crowd-funding, etc. The annual transaction volume that Lakala processed has reached to 2.7 trillion RMB. Lakala now owns over 4 million corporate clients and 100 million individual customers. There are over half a million self-services payment terminals are set up by Lakala in each community CVS of over 300 cities in China. These terminals provide over 4 million people a more convenient access to manage their daily financial services such as utility bills pay-off, money transfer, payment, credit and insurance. Moreover, Lakala constantly integrates the advantage of its advanced payment platform and the rapid progress of internet technology to constructs a diversified ecosystem of internet finance. In addition, Lakala has successfully launched a series of smart payment equipments such as Mobile POS, Cloud POS and Lakala Watch, with total sales units of 10 million and the related annual transaction volume has reached to 500 billion RMB.

In the past decade, Britain has attracted most of the investment among European countries from China. By the end of 2014, China's direct investment to UK has exceeded 40 billion USD. With the increasingly interdependent with a community of shared interests, finance industry, being the pillar industry of UK, is taken for granted as one of the key words for this visit. Recently, the growth rate and transaction volume of the Chinese Internet finance industry ranks at the top positions, whose development potential is attracting world's attention. Being the leader in this industry, Lakala is developing into a financial carrier with a CAGR of over 100%.

About Lakala

Lakala Payment Co., Ltd (hereunder referred to as "Lakala"), founded in 2005, is a hi-tech enterprise of financial services registered by Legend Holdings in Zhongshancun,Haidian District. As one of third-party payment organizations with a payment license for a full variety of products issued by the central bank, it gets dedicated to providing various convenient financial services for individuals, communities and enterprises.

With more than 3 million urban small and micro enterprises and over 100 million individual users all over China, it cooperates with 95% brands of convenience stores, covers over 80% communities and achieves an annual turnover of approximately 2.5 trillion Chinese Yuan. It has established partnerships with hundreds of financial institutions, including China UnionPay, ICBC, ABC, China Construction Bank and Bank of Communications. Thus, it has accumulated abundant mature experience in providing convenient financial services for people.

SOURCE Lakala Finance Group