American Dairy Inc. Supports Government Efforts
15 11월 2004 - 7:30PM
PR Newswire (US)
American Dairy Inc. Supports Government Efforts HEILONGJIANG
PROVINCE, China, Nov. 15 /PRNewswire-FirstCall/ -- American Dairy,
Inc. (OTC:ADIY) (BULLETIN BOARD: ADIY) , one of the leading
producers and distributors of milk powder and soybean products in
China, supports the government's endeavor to increase its
investment in agricultural development projects, in a bid to
improve agricultural production capacity, promote agricultural
restructuring, and raise farmers' incomes(1). "China's Ministry of
Agriculture and Ministry of Finance's efforts to educate farmers
and find new ways to raise investments for new projects,
demonstrates the government's commitment to continue expanding our
industry and China's economic growth," said Leng You-Bin, CEO of
American Dairy, Inc. According to James Wolfensohn, World Bank
President said, "The Chinese have gained achievements in only 20
years which would have take many other countries two centuries to
accomplish." China's reported GDP growth of 9.8% in the first
quarter, 9.6% in the second and 9.1% in the third quarter of 2004.
China is eager to expand and court the world. During the past 24
years when China implemented reform and it's "Open Door Policy,"
China has developed at an incredible speed in absorbing foreign
investment and has made great achievements attracting the world's
attention(2). Companies such as Coca-Cola, McDonald's, General
Electric and General Motors have invested in China because they
expect China to be a major growth area for their businesses(3). In
the last ten years, $400 billion to $500 billion in foreign direct
investment has flowed into the country while many investors have
enjoyed double-digit returns(4). For example: China Netcome
reportedly had been expecting to raise $1.5 billion through
listings in New York and Hong Kong. Other public Chinese companies
include: China Automotive Systems, Inc., China Digital Wireless,
Inc., Euro Tech Holdings, LJ International, Inc., Tiens Biotech
Group (USA) Inc. and Pacific Net, Inc. China has become an
investment hotspot contributed by: 1) China's 1.2 billion people,
the greatest population of any country on earth, have the potential
to be the world's largest consumer market. A growing middle class,
with a high rate of savings, is investing in China's dynamic new
private sector and its stock market. 2) With dramatic growth rates
over the past decade, two to three times those of the U.S. and
Europe, China's awakening capitalism offers investors a rare
opportunity for extraordinary capital returns. 3) China's special
economic zones and encouragement of foreign ventures support
international investment and trade. China increasingly influences
commerce throughout Southeast Asia, creating investment
opportunities in expanding Chinese companies and in other Asian
firms that trade with them. 4) Now that the Chinese have witnessed
the powerful images of Western wealth, the tide of change is not
likely to be turned back. The millions of Chinese who have been
exposed to an affluent lifestyle are eager to educate themselves
and work hard to be able to take part in it. 5) While investing in
China involves special risks inherent to emerging foreign markets,
the potential for economic growth is tremendous. With higher risk,
there is also a higher potential for growth(5). Certain statements
made herein constitute forward-looking statements that involve
risks and uncertainties. In such instances, actual results could
differ materially as a result of a variety of factors including the
risks associated with the effect of changing economic conditions at
home and abroad, variations in cash flow, reliance on collaborative
retail partners, and on new product development, variations in new
product and service development, risks associated with rapid
technological change, and potential of introduced or undetected
flaws and defects in products and services and other risk factors
detailed in forms filed with the Securities and Exchange Commission
from time to time. (1)
http://www.china.org.cn/english/2003/Aug/72915.htm (2)
http://www.chinadetail.com/china/investment/why/01.htm (3)
http://www.usfinds.com/ (4) http://www.china-funds.com/ (5)
http://www.usfunds.com/ For more information, please contact:
General Information, Mathew Wang of American Dairy Inc.,
+1-213-225-6228, DATASOURCE: American Dairy Inc. CONTACT: General
Information, Mathew Wang of American Dairy Inc., +1-213-225-6228,
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