BEIJING, Dec. 20, 2004 (PRIMEZONE) -- China Direct Trading Corporation (OTCBB:CHDT) announced today that it has signed a distribution agreement to purchase pearls from a major supplier in the China pearl industry.
The company took an order from a Miami wholesaler recently and went to the supplier to pick up the sample order and two hours later became their U.S. supplier.
"This is how it is in China today. You have a country that in the past was very poor, yet people made products which sold for pennies on our dollar. Now people own their own businesses, but in China local goods still sell for pennies to our dollar. So the opportunity to find inexpensive products is limited to how long you can stay awake," said Howard Ullman, Chairman and CEO of China Direct Trading Corp.
The line of pearls consists of sea and fresh water necklaces in sizes of 3mm to 12mm in white, orange, pink, and black. The line also consists of single pearl earrings on a back as well as a pearl designed with diamond chips on silver designs. The company looks to sell this line through jewelry distributors, retailers, and wholesalers as prices are direct from China.
CHDT is a global trading company engaged in product development, manufacturing, distribution, logistics, and product placement into mass retail. The company holds patents and sells products to importers, theme parks and directs to retail worldwide. By establishing relationships with various governmental agencies, public and private institutions, and private industries in China the Company aims to play a key role in assisting U.S. companies that desire to move production or investments into China as well as helping Chinese firms grow through U.S. distribution and financial support. In addition, the company acquires and invests in innovative products, services, or technology companies.
FORWARD-LOOKING STATEMENTS:
This press release includes "forward-looking statements" within the meaning of the federal securities laws. Although CHDT (the "Company") believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Many factors are beyond the Company's and its subsidiaries' control. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's existing and future filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions as set forth in the Company's public filings with the Securities and Exchange Commission and herein.