Tuesday, April 20, 2010

Yongye International, Inc. Sees Bright Future Ahead for China's Agriculture Industry

"BOSTON, April 17 /PRNewswire-Asia-FirstCall/ -- Yongye International, Inc. (NasdaqGS: YONG), a leading organic fertilizer manufacturer in China, sees great potential ahead for the country's agriculture industry. Wu Zishen, CEO and Chairman of Yongye International, while speaking at Harvard's China Review Conference 2010, emphasized that business opportunities in the Chinese agriculture industry are highly promising and used the tremendous success of Yongye International and its Shengmingsu brand of organic fertilizers as a model company for the industry.

The conference afforded Mr. Wu the opportunity to speak on topics related to "China's Future after 60 years of Growth" and where he was a featured panelist in the Entrepreneurship track where he spoke on "Moving Forward in Business." He stressed that China would continue to be an important factor in the global economy in the 21st century and discussed how China's agriculture industry would continue to develop as an inextricable part of the world's overall economic growth. He added that, "continuous growth of grain production over the last 6 years in China has also increased income for farmers and exemplifies the growth of the agriculture industry as a whole." He mentioned that in 2009, the central government of the PRC increased its agricultural budget by 21.8% to RMB 725.6 billion over that of 2008 and plans to increase it another RMB 93 billion in 2010. He believes that the Chinese government's support for agriculture has also come in the form of promotion of organic fertilizers, such as Yongye's Shengmingsu, and this will continue in the foreseeable future."

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