Taoping Inks Agreement To Boost East China Presence

Taoping Inc (NASDAQ:TAOP) agreed with Zhenjiang Economic and Technological Development Zone (ZETDZ) for TAOP's East China expansion project.
TAOP will set up a wholly-owned subsidiary in ZETDZ with planned registered capital of $30 million under the arrangement.
ZETDZ will provide support in project construction, coordination, operation and fully assist in the process and development of TAOP's East China Expansion Project.
The strong presence in East China will fast-track TAOP's cloud application and digital business development in the East China market and adopt the TAOP intelligent cloud ecosystem.
Price action: TAOP shares traded lower by 0.40% at $4.96 in the market session on the last check Friday.