HARBIN, China, Dec. 4, 2009 (GLOBE NEWSWIRE) -- China Forestry Inc. (OTCBB:CHFY), a timber investment group in the People's Republic of China, announced today that its CEO Mr. Yuan Tian discussed the Company's new investment opportunity and investment criteria during a recent online interview with Paul Salay of InvestSource Inc., where he cited the effects of the global slowdown on the Company's decision to pursue timber related revenue producing businesses that will enhance the prospects of uplisting the Company shares.
Mr. Tian revealed that in addition to considering an investment in the announced landscape engineering and construction business and the landscape tree transplanting business, the Company also conducted extensive due diligence on a historic tourist forest park in Xi'an City of China.
Mr. Tian further revealed that in addition to the current acquisition candidate under a non-binding letter of intent exceeding the company's new investment criteria, the market for advanced landscape architecture and engineering is in its infancy in China, and that this market is attracting the attention of renowned international firms to satisfy China demand for sustainable economic development.
"The effects of China's urbanization on its environment in terms of deforestation, water and air pollution, natural resource and biodiversity loss creates a significant market potential for landscape engineering and architecture that can create sustainable economic growth for developers, and this new market is attracting the attention of renowned international firms to fill China's demand for such expertise," said Mr. Tian.
For access to the entire interview with CHFY's CEO Mr. Tian, please go to: www.investsourceinc.com.
About China Forestry Inc.:
China Forestry Inc. (OTCBB:CHFY) is a timber investment group formed in the People's 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 Chinese 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.
Safe Harbor Statement:
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as ``anticipate,'' ``believe,'' ``estimate,'' ``expect,'' ``intend'' and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.