February 6, 2013

Deyu Agriculture Corp. announced that its subsidiary, Jinzhong Deyu Agriculture Trading Co., Ltd, recently received CNY1.3 million (US$206,000) of Jinzhong city government subsidies, which will be used to support Deyu's business operations and construction of its grains processing projects.

"We are thrilled to receive these grants as we believe they will help us expand our business and further promote economic and industrial development in Jinzhong," said Jianming Hao, CEO of Deyu. "Fostering a large, robust and modernised agricultural industry in Shanxi Province, particularly in Jinzhong, and boosting farmers' incomes in the region are very important to us, and with these grants, we believe we are in a much better position to meet these aims."

According to a release, in 2012, the Shanxi Provincial Development and Reform Commission in China approved the inclusion of the Coarse Grain Processing Development of Jinzhong Deyu in the list of its local agricultural products industrial support and agro-processing investment plan. The Coarse Grains Processing Development strives to generate social and economic benefits in Shanxi Province in accordance with the policy of the Shanxi Provincial Government in strengthening the "Three Rural Works," which are works related to agriculture, rural areas and farmers.