China: Heilongjiang Province is home to nation’s most valuable timber / loggers
China Forestry Inc. (OTCBB:CHFY), a timber investment group in the
People’s Republic of China, announced today that the Company has
signed a letter of intent with a Chinese citizen to acquire a forest
user right certificate representing an additional 1,333 hectares of
forest near the Xiaohe Village, Wama Town, Longyang District, Baoshan
City, Yunnan Province. The certificate represents forest user rights
until 2033 for over 10,000 pieces of landscape plants of over 50cm in
diameter and over 150,000 cubic meters of timber.
Known as the
“kingdom of plants,” Yunnan Province has the largest diversity of
plant life in China and 24.2 million hectares of its forest lands,
with vast amounts that are undeveloped and predominately owned by
individuals through user rights certificates. Commenting on the
Company’s interest in Yunnan Province, Mr. Yuan Tian, CEO of CHFY,
stated, “Forest plantations in Southern China will provide us the
opportunity to replant with species such as bamboo that have much
faster growth cycles than our current timber holding in northeastern
Heilongjiang Province. In addition to faster investment returns from
species with faster growth cycles, we are confident that Yunnan
Province will provide ample opportunities for expansion given that
there are large amounts of virgin forest and that 74% of its forests
land are owned through collectives,” said Mr. Tian. China Forestry
Inc. (OTCBB:CHFY) is a timber investment group formed in the Peoples
Republic of China to conform to State laws that prohibit non-PRC
ownership of forest lands.
The Company’s strategy is to capitalize on
the Central Government’s decision to promote sustainable forest
management through land tenure reforms that include the
transferability of forest user right certificates to PRC entities. The
Company’s current holdings include ownership of four user right
certificates representing 1,561 hectares of State forest assets in
China’s northeastern Heilongjiang Province, home to China’s most
valuable timber and one of the most distinctive temperate forests in
the world due to its rare biodiversity. For more information, please
visit the Company’s website at: http://www.chinaforestryinc.com
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