Benzinga | Jun 11, 2021 10:38AM EDT

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.