GEMSTRA is proud to announce that we are currently in advanced negotiations localized in Weihai, China and partnered with the Weihai government to bring GEMSTRA’s Boutiques to the robust Chinese market.
GEMSTRA CEO, Jay Cheng states, “by bringing our technology to Weihai we can take advantage of their trade zones enabling cross-border trading with Korea and other large business centers. The ability for Brands and Influencers to conduct business cross-border provides limitless growth opportunities to Brands in both the East and the West. The Weihai government, in addition to select Chinese enterprise real estate investors will make significant capital and resource investments to localize GEMSTRA in China.”
Weihai is a city in eastern Shandong province, China. It is the easternmost prefecture-level city of the province and a major seaport. In 1987 Weihai was designated by the national government as one of the "open" cities along the China seacoast that was encouraged to attract foreign investment. Since then, petrochemical, building-material, textile, and pharmaceutical manufactures, as well as various light industries, have been developed in the area; there are also aquaculture and food-processing operations.
China has always been a strategic play for GEMSTRA, and we have been cultivating our relationships there. China has the 2nd largest retail economy in the world and Key Opinion Leaders (KOLs) located there are integral to brands getting their message across to consumers. Some of the top KOLs in China can make 100’s of thousands of dollars for a single social media post! GEMSTRA realizes this huge untapped potential in China, and is providing the tools for these KOLs to connect more easily with Brands and Merchants through their ecosystem’s technology. This is the first of many BIG announcements we will be making for this region.
We believe this new partnership with Weihai, China is an big first step as GEMSTRA begins to expands it’s business throughout the world. Thanks to the support of organizations such as the Weihai government and our awesome community, significant world wide expansion has become a reality.
Up until the launch of the token sale a few days ago, we have been focusing on developing our technology and have been successful in maintaining a break-even cash flow business. This is the main reason that a soft-cap was not assigned to the token sale. GEMSTRA’s business is sustainable without any additional capital and is not going away any time soon. However, now that we have the opportunity to expand and improve our footprint, the prospect’s going forward are very exciting.
We invite everyone to read more about GEMSTRA at https://www.gemstra.com.
Our token sale is currently LIVE on Cobinhood at: https://bit.ly/2Ds3MN0
Have a nice day!