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China Grants $4.26mn Subsidy to Shiner International for Packaging Industrial Park Project

Shiner International, Inc. (Nasdaq: BEST) (website: ), a market leader in the food safe packaging and anti-counterfeiting packaging industries, today announced that the Company's Packaging Industrial Park Project in Hainan was listed as a "Budgeted Investment Plan" by the Chinese central government and received a subsidy of 29 million RMB or approximately $4.26 million towards its construction.

"We are delighted that our project has been designated as a National Budgeted Investment Plan," Mr. Jian Fu, Shiner's CEO commented. "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. In recent years, the central government has begun to realize the importance of domestically developed key technology products that utilize intellectual property that is developed and owned by Chinese companies such as Shiner. 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. 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. 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."


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