Packaging
Company receives multi-million Chinese government subsidy 20 Oct 2009
Shiner International, Inc. announced that the Chinese government has awarded it a subsidy of 29 million RMB or approximately US$4.26 million towards the construction of the companys Packaging Industrial Park Project in Hainan.
The funds received from the government will be used for the construction of infrastructures, improvement of capacity and recruitment of senior technical staff for the project.
In recent years, the central government has begun to realise the importance of domestically developed key technology products that utilise intellectual property that is developed and owned by Chinese companies such as Shiner.
“We are delighted that our project has been designated as a National Budgeted Investment Plan,” said Jian Fu, Shiner’s CEO.
“For quite some time, the Chinese domestic market has relied on the importing of high quality packaging films for high-end consumer products at great expense to Chinese manufacturers. Recognizing that our Packaging Industrial Park Project will allow us to manufacture many of our patented products in a state of the art facility, the central government awarded us this subsidy. We believe the construction of this project, with the government’s assistance, will enable us to deliver quality products at competitive prices to new and existing customers in the domestic and international markets,” Fu added.
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