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Elong Network Information Technology (Beijing) Co., Ltd., an affiliate of Tongcheng Group, has successfully secured a payment license through the acquisition of a 100% stake in Xinsheng Payment Co., Ltd. Presently, certain business registration details of Xinsheng Payment have undergone partial modifications, with the People's Bank of China set to release pertinent information in due course. In response to this development, Elong Network remarked that following the completion of the acquisition, it stands to gain from the growth prospects of the Hainan Free Trade Port. Leveraging payment services as a pivotal link, the company aims to capitalize on strategic opportunities within sectors such as cross-border commerce and cultural and tourism consumption, thereby fostering the digital transformation and enhancement of cultural and tourism consumption scenarios.
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