BEIJING and LAS VEGAS, March 10 /Xinhua-PRNewswire-FirstCall/ --
China Holdings, Inc. (OTC:CHHL) (BULLETIN BOARD: CHHL) , a global
diversified asset holdings company, and its subsidiaries that
engage in multiple China-focused business activities including
energy, renewable energy, resources, utilities, finance, real
estate, and pharmaceuticals, announced today the Company has
executed its 4th development contract with the exclusive right to
develop and construct a Biomass Energy Power Generation Plant with
a power capacity of 50 MW through its controlled subsidiary "China
Power, Inc." with the local Ongniute Government ('Ongniute') ,
Inner Mongolia Province, People's Republic of China. The
breakthrough brings the Company's total potential power capacity to
270 MW in Alternative Energy Power Generation Plant/Projects (
Biomass Energy Projects 200MW ( 4 X 50MW) and Hydropower Projects
54 MW - 72 MW). Under the Construction Agreement, Ongniute has
agreed to provide China Power with the land rights for up to 200
MU, or 133,400 square meters of land, to develop a biomass energy
power plant, together with an additional 500,000 MU, or 333,500,000
square meters, of land, rich in straw resources to support the
power plant. Conversely, China Power has committed to invest up to
580 million Yuan, or approximately $81,586,000, towards the
development of the power plant, or 56,000 Yuan, or approximately
$7,877, for every 667 square meters of land provided by Ongniute.
Legally protected by the Chinese Central Government's biomas energy
policies, Ongniute has guaranteed (i) the financing for up to 65%
of the total 580 million Yuan of the power plant through a local
bank at a preferred interest rate, (ii) that 100% of the power
generated by the Biomass Energy plant shall be purchased by the
China State Grid at a purchase price of between 0.60 and 0.65 Yuan,
or approximately $0.09 and $0.08, per kilowatt, and that the
Biomass Energy Power Generation Plant/Project (Power Capacity:
50MW) has the total expected annual power generating capacity of
400 million kilowatt-hour (kWh) and (iii) the payment of 13.2
million Yuan, or approximately $1,856,797, back to China Power once
construction of the power plant is completed. Ongniute will also
guarantee securing all necessary government approvals and ensuring
the supply of all required utilities, such as electricity, water,
communications and roadways, and China Power shall be responsible
for obtaining all required financing for the plant and operating
the plant with the most advanced technology available. The
construction of the plant is estimated to take approximately two
years. In addition, Ongniute has agreed to ensure that the plant is
not subject to income taxes for its first three years of operation
and then subject to a tax rate of no more than 12.5% for the
following three years. Development of the plant will be done
through Ongniute America-China Green Energy Co. Ltd., a wholly
owned subsidiary of China Power, Inc. The Company has secured,
and/or will have secured the Advanced Technology (CAPS-II pyrolysis
system, the leading technologies of biomass energy systems in the
world), Efficient Combustion Resulting in Clean Emission (CAPS-II
pyrolysis system is environmentally friendly and economically
profitable, in disposing of agricultural waste), and Modular Design
Maximizing Flexibility, etc. The Company is establishing
longstanding strategic relationships with other power operators,
financial sponsors, suppliers, subcontractors and governmental
representatives that will ensure the Company's successful
development of renewable power generating facilities. The Company
is developing its Renewable Energy Projects & Pipeline in
Biomass Energy Power Generation Plants/Projects & Hydropower
Plants in hopes of reaching a total Potential Power Capacity of
3200 MW by the year 2013 via Merger & Acquisitions (M&A),
Joint-Venture Partnerships with Biomass Projects & Hydropower
Plants and companies, governments in China, or/and worldwide. The
Company's Advanced Renewable Energy Strategy & Plan in
Hydropower Plants and Biomass Energy Power Generation Plants will
enhance the technical, social, and environmental benefits of
Biomass Energy /hydropower and provide investment and business
opportunities in the cost-competitive Biomass Energy /hydropower
capacity energy supply in China as well as around the world, which
will increase worldwide shareholders' value in the long term. The
Company's objective is to achieve long-term capital appreciation
through investment in companies and other entities with significant
assets, investments, production activities, trading or other
business interests in China, or/and worldwide, or/and which derive
a significant part of their revenue from China, or/and worldwide.
For the Company's profile, please feel free to visit our website:
http://www.chinaholding.net/ . About China Holdings, Inc. China
Holdings, Inc. (NASD OTC Bulletin Board: CHHL), is a diversified
global assets holding company. The Company and its subsidiaries
engage in multiple China-focused business activities including
energy, renewable energy, resources, utilities, finance, real
estate and pharmaceuticals. Its objective is to achieve long-term
capital appreciation through investment in companies and other
entities with significant assets, investments, production
activities, trading or other business interests in China, or/and
worldwide, or/and which derive a significant part of their revenue
from China, or/and worldwide. The Company has three wholly-owned
subsidiaries: (i) China Power, Inc., and (ii) China Minerals
Holdings, Inc.; (iii) China Health Holdings, Inc. For the Company's
profile, please feel free to via website:
http://www.chinaholding.net/ . About China Power, Inc. China Power
Inc., a controlled subsidiary of China Holdings, Inc., is a global
energy & renewable energy holding corporation, which focuses on
Merger & Acquisition, Joint-Venture Partnership, Investment,
Research & Development, Construction and Operation of energy,
and renewable energy, and environment protection projects in China
and worldwide. The Company is developing its Renewable Energy
Projects & Pipeline in Biomass Energy Projects & Hydropower
Plants to reach the Total Potential Power Capacity 3200 MW by the
year 2013. The Company's Advanced Renewable Energy Strategy &
Plan in Hydropower Plants and Biomass Energy Projects will enhance
the technical, social, and environmental benefits and provide
investment and business activities in the cost-competitive biomass
energy and hydropower capacity energy supply in China and
worldwide, and also increase its worldwide shareholders values in
the long term. About Biomass Renewable Energy in China Renewable
Power Producers are involved in generating electricity power from
renewable energy sources, such as Hydropower (Water), Wind Energy
and Certain Waster Products such as Biomass. The demand on
renewable energy power in the world continues growing and is
largely driven by long-term trends towards stronger policies for
environmental protection. The combustion of fossil fuels such as
coal, oil and natural gas to generate electricity power emits
greenhouse gases, and is acknowledged worldwide as a major source
to global warming. For environmental protection, combined with an
increase in electricity demand, lower-level growth of electricity
supplies, and near all- time high energy commodity prices are
enticing electricity producers and providers to diversify their mix
of power generation sources to include a larger share of renewable
power. Biomass Renewable Energy: straw to energy. Straw is
renewable energy and is a part of nature's plants. The carbon on
the inside of the straw can change to organic carbon through
absorption of carbon dioxide (CO2) from the atmosphere during
photosynthesis. The biomass energy project, as an alternative and
renewable energy source, is fully supported by the central
government and local governments of China. The development and
construction of the renewable energy project is protected by The
Renewable Energy Law, created on January 1, 2006, by the People
Congress of China. The Chinese central government has set a series
of tax exemption/deduction regulations to encourage the
construction of renewable energy projects. The National Reform and
Development Committee implements the purchase electricity price for
renewable energy. It ensures the standard purchase electricity
price is 0.25 Yuan/kWh addition base on the local average grid
connection price (0.25-0.44 Yuan/kWh). In addition, there is a
supervision system to ensure full purchase and payment. For
worldwide investor and media inquiries, please contact: China
Holdings Inc. (Las Vegas and Beijing) Julianna Lu, Chief Executive
Officer, and James H. Simpson, SVP/IR Tel: + 86-1370-133-1287; Tel:
+86-10-6586-4770; Fax: +86-10-6586-4790; Email: ; Web:
http://www.chinaholding.net/ Forward-Looking Statements To the
extent that statements in the press release are not strictly
historical, including statements as to revenue projections,
projections of results of specific activities or investments,
business strategy, outlook, objectives, future milestones, plans,
intentions, goals, future financial conditions, future
collaboration agreements, economic performance and trends, the
success of the Company's development, events conditioned on
stockholder or other approval, or otherwise as to future events,
such statements are forward looking, all forward-looking
statements, whether written or oral, and whether made by or on
behalf of the Company, are expressly qualified by the cautionary
statements and any other cautionary statements, which may accompany
the forward-looking statements, and are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Forward-looking information
is inherently subject to risks and uncertainties, and actual
results could differ materially from those currently anticipated
due to a number of factors, which include, but are not limited to,
risk factors inherent in doing business. Forward-looking statements
may be identified by terms such as "may," "will," "should,"
"could," "expects," "plans," "intends," "anticipates," "believes,"
"estimates," "predicts," "forecasts," "potential," or "continue,"
or similar terms or the negative of these terms. Although we
believe that the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results,
levels of activity, performance or achievements. The company has no
obligation to update these forward-looking statements. Other
important factors that could cause actual results to differ
materially include the following: business conditions and the
amount of growth in the Company's industry and general economy;
government policies, competitive factors; ability to attract and
retain personnel; the price of the Company's stock; and the risk
factors set forth from time to time in the Company's SEC reports,
including but not limited to its annual report on Form 10-KSB; its
quarterly reports on Forms 10-QSB; and any reports on Form 8-K. In
addition, the company disclaims any obligation to update or correct
any forward-looking statements in all of the Company's press
releases to reflect events or circumstances after the date hereof.
DATASOURCE: China Holdings, Inc. CONTACT: China Holdings Inc. (Las
Vegas and Beijing), Julianna Lu, Chief Executive Officer or James
H. Simpson, SVP of IR, +86-1370-133-1287 or +86-10- 6586-4770, or
fax, +86-10-6586-4790, or or Web Site: http://www.chinaholding.net/
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