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US listed Chinese fruit juice firm plans investment

07-Jan-2010

SkyPeople Fruit Juice plans to use subsidies from the Chinese government to expand R&D facilities and invest in new processing equipment.

The China-based fruit juice processer was awarded RMB 9 million ($1.32m) in subsidies from local government in November 2009.

Shaanxi local government has confirmed an extension of its support program for the kiwi industry, which began in 2008 and is now being continuing through 2015.

Chairman and CEO Yongke Xue said: “We are pleased that the Shaanxi government has continually supported kiwifruit growers and our company in our home province.

“This round of subsidies for our industry will strengthen our raw material supply and provide our company a direct benefit that we can invest back into our business accordingly.”

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