HARBIN, China, Dec. 18, 2008 (GLOBE NEWSWIRE) -- China Forestry Inc. (OTCBB:CHFY), a timber investment group in the People's Republic of China, announced today that the Company has adopted sustainable forestry objectives, which are largely based on the principals of the Sustainable Forestry Initiative Standard and the Forest Stewardship Council. In addition, the company has developed a corporate code of ethics. Both the sustainable forestry objectives and the code of ethics can be accessed on the Company's website.
Commenting on the Company's sustainable forestry objectives and code of ethics, Mr. Yuan Tian, CEO of CHFY, stated, "While we are evaluating options in China for third party certification, we think that it is important to our shareholders, the investment community and holders of forest user right certificates in China to acknowledge our responsibility and commitment to sustainable forestry management."
"We developed our code of ethics to promote our goals of transparency, integrity, human rights and improving the environment. It reflects our corporate values and social responsibiities to shareholders, employees and stakeholders," said Mr. Tian.
About China Forestry Inc.:
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.
Forward Looking 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.