HONG KONG, Sept. 1, 2011 (GLOBE NEWSWIRE) -- Sino Fibre Communications, Inc. (OTC Pink: SFBE, Borse Berlin: 3SF) today saluted the release of China's Energy Policy.
The Chinese government is implementing multiple policies to promote renewable energy. China invested US$34.6 billion into clean energy in 2009, an amount ranked #1 among G20 countries, and almost twice of that of the U.S. The Renewable Energy Law passed in 2005 explicitly states in its first chapter that the development and the usage of renewable energy is a prioritized area in energy development. China has enacted a number of other policies to standardize renewable energy products, to prevent environmental damage, and to regulate price of green energy. These policies include, but are not limited to Renewable Energy Law.
Please see: http://en.wikipedia.org/wiki/Energy_policy_of_China
"This is very good news for SFBE and for our developing bioenergy business in China," commented CEO Daniel Mckinney. "We are currently in negotiations for the construction and financing of our factories around China."
Further, the Company has made significant progress in its goal of becoming current in its filings. The 2009-2010 audit currently being conducted by Malone-Bailey LLC is proceeding as announced on June 21, 2011.
The Company has submitted an application to FINRA in order to officially finalize its name change to "Sino Bioenergy Corp." and hopes to receive notification for the effective date soon.
About Sino Bioenergy Corp.
Established in May 2005, Sino Bioenergy Corp. is a Nevada Corporation that trades on the OTC Pink and Bourse Berlin Exchange (symbol: 3SF). Please see our websites at: www.sinobioenergy.com and our 60% owned subsidiary: www.xinbaobiomass.com
The Sino Fibre Communications Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4102
This press release contains forward-looking statements based on management's expectations and beliefs, and may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.