May 21, 2004

Chinese President Hu Jintao Visit Production Base of Lysine Producer in Jilin Province

An eFeedLink Exclusive Report 

Chinese president Hu Jintao has in mid-May visited Jilin province, northeast China. The president's trip to the province is to study solutions to strengthen the economies in the northeast region and review strategies to improve the earnings of farmers in the rural areas.

On May 14, president Hu and other Chinese officials visited the production plant of Jincheng Corn Development Co., Ltd, a subsidiary of Global Bio-Chem Technology Group Company Limited, located in Changchun city of Jilin province.

During his visit to the corn-processing plant in Changchun city, Hu commented: "Global Bio-Chem has discovered an effective way for turning corn into high value-added products by employing economies of scale, high technology and integrated production methods. The value of one ton of its corn-processed products could buy more than 25 tons of corn, registering an added value of over 20 times. It has allowed the company to maximize its cost-efficiency in producing corn products, and at the same time provides Chinese corn farmers a stable and improved income. The production cost of starch-based products is lower than that of petrochemical products; this approach creates a strong competitive edge and a promising outlook for China's corn industry."

      President Hu Jintao visited Global Bio-Chem's              Mr Xu Zhouwen (on the left), co-chairman of Global

      corn-processing plant in Changchun city.                      Bio-Chem, introducing the plant's manufacturing

                                                                                    process to president Hu.

Global Bio-Chem Technology Group Company Limited is listed on the Hong Kong Stock Exchange. Its core business is in the manufacturing of corn-processed products in China. The company's products are sold in the domestic Chinese markets and other countries in Asia, Europe, America and Africa.

The company's headquarters is in Hong Kong and its production plants are located in Changchun city of Jilin province, Jinzhou city of Liaoning province and Shanghai city respectively. With an annual production capacity of 100,000 metric tones of lysine, Global Bio-Chem is the largest lysine producer in China and the largest vertically integrated corn-processing product manufacturer in Asia. Its corn-processing capability is around 1.8 million metric tones per annum.