BEIJING and LAS VEGAS, May 29 /Xinhua-PRNewswire-FirstCall/ --
China Holdings, Inc. (OTC:CHHL) (BULLETIN BOARD: CHHL) , a global
diversified asset holdings company and its subsidiaries,
headquartered in the U.S. and engaged in multiple China-focused
business activities including energy, renewable energy, resources,
utilities, finance, real estate, and pharmaceuticals, today
announced its consolidated development of its 4 Biomass Waste to
Energy Power Plants/Projects (The total power capacity: 200MW). The
Company and its wholly owned subsidiary: China Power, Inc. ('the
Company') have accomplished: -- America-China Green Energy (TaiHu)
Co. Ltd. -- Legal Entity/Name Approved by Chinese Government, 100%
owned by the Company, will operate the Company's TaiHu Biomass
Power Plant/Project (Power Capacity: 50MW), AnHui Province, PR
China. The Company has Completed Fuel Analysis and Feasibility
Study. -- America-China Green Energy (Ontniute) Co. Ltd. -- Legal
Entity/Name Approved by Chinese Government, 100% owned by the
Company, will operate for (Ontniute) Biomass Power Plant/Project
(Power Capacity: 50MW), Inner Mongolia, PR China. The Company has
Completed Fuel Analysis and is working on Feasibility Study. --
America-China Green Energy (HuaXian) Co. Ltd. -- Legal Entity/Name
Approved by Chinese Government, 100% owned by the Company, will
operate for (HuaXian) Biomass Power Plant/Project (Power Capacity:
50MW), HuNan Province, PR China. -- America-China Green Energy
(LongHua) Co. Ltd. -- Legal Entity/Name Approved by Chinese
Government, will operate for (LongHua) Biomass Power Plant/Project
(Power Capacity: 50MW), HeBei Province, PR China -- America-China
Green Energy (ConYang) Co. Ltd. -- Legal Entity/Name is being
processed for Approval by Chinese Government, will operate for
(ConYang) Biomass Power Plant/Project (Power Capacity: 50MW), AnHui
Province, PR China The Company's 5 Biomass Energy Power Plants
(250MW)'s Potential Profitability Government Policy Supports -- The
municipal government has approved China Holdings/China Power to
build, own and operate the 5 Biomass Waste to Energy Power
Plants/facilities (5 x 50 = 250 MW) for over 30 years, with
additional renewable terms/years. -- The Central Chinese
Government, provincial and local municipal governments have enacted
new legislation and brought in new regulations for both the
effective disposal of agricultural and forestry waste and the
efficient use of renewable energy resources, such as crop straw and
bush. Under the recently introduced legislation and regulations,
State owned electricity grids now must purchase all electricity
produced by renewable energy projects. The purchase price is also
0.25 RMB/Yuan higher than the normal electricity sale price for
coal-fired power plants. This new legislation and the new
regulations have therefore made it both possible and profitable for
private investment in the biomass waste to energy projects. -- Law:
The Renewable Energy Law was passed by the People's Congress of
China on February 28, 2005 and came into force on January 1, 2006.
-- Tax Benefits: To encourage the construction of renewable energy
Projects, the Chinese Central Government has introduced a series of
tax exemptions, incentives and tax holiday privileges. --
Electricity Price: To ensure the construction and development of
Renewable energy projects, the National Reform and Development
Committee has set the standard electricity price for renewable
energy 0.25Yuan/KWH higher than the local average grid connection
price. This is approximately 40% higher than the local average.
Additionally, there is a supervision system to ensure full purchase
and payment of all Renewable energy produced. -- Carbon Credits:
The Chinese Government allows qualifying joint venture Plants to
trade Clean Development Mechanism (CDM) credits. These can be
traded in advance of Plant construction at around US$ 10-15/ton or
at a much higher value if traded after construction is completed.
The characteristics of the China Holdings/China Power's each
biomass waste to energy power plant/project (50 MW): 1. Size: 1240
tons-per-day 2. Annual waste disposed: 409,200 tons 3. Construction
period: 24 months 4. Operating period: 30 years 5. Power Capacity:
50 MW x 5 = 250 MW 6. Annual electricity produced: 411,050,000
kW-hrs 7. Annual electricity sold: 361,680,000 kW-hrs 8. Total
Project Investment: 610,790,000 RMB 9. Electricity sell Price: 0.61
RMB/kW-hr 10. Fuel Delivery Price: 150-300 RMB per ton The
Company's Total 5 Biomass Waste To Energy Plants (250MW) in China:
Begin operation and production in 2010, Expect: * Annual
electricity produce: 2055,250,000 kW-hrs * Annual electricity sold:
1808,400,000 Kw-hrs * Electricity sells Price: 0.61 RMB/kW-hr *
Total Investment (35% cash + 65% bank loan): 3053,950,000 RMB *
Total Power Capacity: 250 MW The Company is developing its
Renewable Energy Projects & Pipeline in Biomass Energy Power
Generation Plants & 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 Energy Plants/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 have technical,
social, and environmental benefits 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 the Company's 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. (OTC:CHHL) (BULLETIN BOARD: CHHL) , is a diversified
global assets holding company headquartered in the U.S. 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., (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 wholly owned subsidiary of China Holdings, Inc., is a
global energy & renewable energy holding company headquartered
in the U.S. It focuses on Merger & Acquisition, Joint-Venture
Partnership, Investment, Research & Development, Construction
and Operation of energy, 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 have 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. Biomass Waste
as a Clean Renewable Energy Straw is the main by-product from the
harvesting of agricultural crop. In the past, straw, bush and
quitch was used as a household cooking fuel. However, in recent
years, as China's agricultural economy has developed and farmers'
incomes have increased, the usage of straw, bush and quitch has
decreased sharply. Farmers now prefer to use fuels, such as coal
and gas, which are easier to use, have higher energy content, and
require less space for storage. An increasing amount of straw, bush
and quitch is now burnt in the open in many regions in China. The
burnt portion can be as much as 80% of the straw, bush and quitch
produced and causes serious environmental problems. Instead of open
burning, straw, bush and quitch can be used to generate electricity
in an environmentally friendly manner. By 2010, China will have
between 350 million tons to 370 million tons of unused straw. If
this huge amount of straw is used for power generation, it would
represent an additional 450 billion KwH of electricity. Biomass
waste to energy is therefore a very sustainable and environmentally
friendly potential energy source in China. Smoke emissions from
agriculture waste open-burning and forest fires badly affect air
quality. Collecting agriculture from farmers can avoid biomass
burning in site, which caused not only smoke and pollutants but
also risk highway transportation and air transit. Removing forestry
waste like accumulated dead wood and bush, dry quitch, foliage and
grass from forested areas can reduce forest fire risk. The biomass
waste to energy plant will offer a rewarding application with
effective and clean combustion compared to straw open-burning in
site or forest fire, and will significantly reduce and eliminate
smoke emitted from open burning in site and forest fires. For
worldwide investor and media inquiries, please contact: China
Holdings Inc. (Las Vegas and Beijing) Julianna Lu, Chief Executive
Officer Tel: +86-1370-133-1287; +86-10-6586-4770 Fax:
+86-10-6586-4790 Email: ; Web: http://www.chinaholding.net/;
http://www.chinaholdings.org/ 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,
+86-1370-133-1287; +86-10-6586-4770, fax, +86-10- 6586-4790, or ;
Web site: http://www.chinaholding.net/
http://www.chinaholdings.org/
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