Mubasher: Chinese company Wonder News Technology has inaugurated its main office in Bahrain with total investments of $50 million.

Marking the company’s first branch in the GCC, Wonder News will provide its e-commerce and financial technology (fintech) services to the clients in the Gulf and the Middle East regions, the Bahrain Economic Development Board (EDB) said in a statement.

The new entity is expected to offer 500 job opportunities in Bahrain during the coming three years, the statement added.

Wonder News’ branch in the GCC country was a fruit of a memorandum of understanding (MoU) signed between Manama and Shenzhen in September 2016, governor Hisham bin Abdulrahman Al Khalifa stated.

Fuzhou-headquartered Wonder News Technology was established in 2015 by Fujian Wangle Technology Company Ltd. with offices in Egypt, Morocco, Saudi Arabia, and the UAE.