This is HUGE IMO.......
Soybean Protein Peptide Named a Strategic Product for Development by Chinese Government
HONG KONG, Jun 8, 2004 /PRNewswire-FirstCall via COMTEX/ -- American Oriental Bioengineering Inc. (AOBO), today announced that its Soybean Protein Peptide was named a strategic product for development by the Chinese government.
To be named a strategic product for development in China, a product has to satisfy various criteria set forth by the Chinese government, including:
-- Brand new products that complement the economic, technical and
strategic development plan of the government
-- High technology developments, with quality standards that meet the
government's requirements
-- Proprietary technologies that have no apparent equivalents
-- Products that offer a benefit to society as a whole, while offering
substantial economic development opportunities
Shujun Liu, Chief Executive Officer of American Oriental Bioengineering, commented, "We are pleased with this recognition as it validates the large existing market and potential growth for our soybean protein peptide products. Our recognition by the Chinese government gives American Oriental Bioengineering a big competitive advantage. We believe this will help us ramp our sales growth even quicker as we expand our presence in China, penetrate new markets such as Europe and the U.S., and develop and commercialize the our biotech and pharmaceutical products given the increasing demand we are seeing globally."
About American Oriental Bioengineering, Inc |
