SOURCE: China Metro-Rural Holdings Limited

China Metro-Rural Holdings Limited

November 24, 2010 09:00 ET

CNR's Logistics Platform and Recent Measures by the Chinese Government to Tame Hiking Prices

NEW YORK, NY--(Marketwire - November 24, 2010) - China Metro-Rural Holdings Limited (NYSE Amex: CNR) (the "Company" or "CNR") discussed the implications of recent measures implemented by Chinese Government to arrest hiking prices and the role of its China Northeast Logistic City ("NLC").

"The State Council of the PRC has issued Circular Guo Fa No.40 (2010) last Friday, 19 November 2010 (the "Circular") which ordered local governments to rein in surging food prices. The Circular reiterated the importance of keeping prices down to the stabilisation of the society at large and has ordered local governments and departments to take appropriate measures to ensure that prices are stable, such as boosting production, reduction of road tolls, strengthen monitoring of illegal price controlling activities, increase in transparency on pricing information, pricing reforms, as well as temporary subsidies to the needy, etc.," stated Mr. Sam Sio, CEO of China Metro Rural Holdings Limited. "Other measures are also taken, such as, from December 1, vehicles transporting perishable agricultural produces/products are allowed to use toll-roads for free. Other new items are also added to the free-from-road-toll list (or the Green Passage List)."

"These new measures are trying to bring down the transaction costs of agricultural produces and products in China while maintaining income to farmers, which together with the 12th Five-Year Plan, are in line with the goal of our company," Sam added. "China covers a huge area and NLC is our first project which is devoted to the development and operation of integrated and multi-functional logistics platforms that facilitates the exchange of agriculture produces and products with a view to lower transaction costs."

ABOUT CHINA METRO-RURAL HOLDINGS LIMITED
China Metro-Rural Holdings Limited is one of the leading developers and operators of large scale, integrated agricultural logistics and trade centers in Northeast China that facilitate a relationship between sellers and buyers of agricultural commodities and small appliances, provide relevant physical platform and timely marketing information and intelligence, provide a transparent and competitive market price discovery mechanism and provide infrastructure to enhance the living standards of those from the rural area.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are, by their nature, subject to risks and uncertainties. This Act provides a "safe harbor" for forward-looking statements to encourage companies to provide prospective information about themselves so long as they identify these statements as forward-looking and provide meaningful cautionary statements identifying important factors that could cause actual results to differ from the projected results. All statements, including statements regarding industry prospects and future results of operations or financial position, made in this press release are forward looking.

Words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "would" and similar expressions may identify forward-looking statements. These forward-looking statements include, without limitation, statements relating to: the Company's future performance, momentum, the Company's expansion efforts, the state of economic conditions, the Company's market and the governmental policy. These forward-looking statements are based on assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes to be appropriate in particular circumstances. However, whether actual results and developments will meet the Company's expectations and predictions depends on a number of known and unknown risks and uncertainties and other factors, any or all of which could cause actual results, performance or achievements to differ materially from the Company's expectations, whether expressed or implied by such forward-looking statements.

Contact Information

  • CONTACT:
    China Metro-Rural Holdings Limited
    Investor Relations Department
    Phone: (852) 2111 3815
    E-mail: Email Contact