BEIJING, Jan. 20, 2009 (GLOBE NEWSWIRE) -- Golden Dragon Holdings, Inc. (Pink Sheets:GDHI) www.gdfbhk.com, the Company announces that it has reached an agreement with Horst Coffee Beijing Company, Ltd. of China. Under this agreement Horst Coffee will have the exclusive rights to sell GDHI selected blend of coffee from Kaffee Badilatti via an internet online shopping website. This online shopping website will enable GDHI to place Kaffee Badilatti gourmet coffee at the finger tips of consumers in China, Hong Kong and Macao.
Mr. Yglesias, CEO, states, "The online shopping market reached RMB56.1bn in 2007, up by 117.4% year-on-year. We expect this platform to place our coffee instantly in front of a large and growing number of online consumers."
About Horst Coffee Beijing Company, Ltd.
Horst Coffee Beijing Company, Ltd. is a national Chinese distributor of gourmet coffee. Horst Coffee produces its own private label coffee brand for the Chinese market. Currently Horst Coffee is developing an e-Commerce website and it is currently in beta testing with the banking system in China to secure online transactions via credit cards. The launch date will be March 30th 2009.
About the e-Market in China
There were more than 10 million online shoppers in China's four large cities, i.e. Beijing, Shanghai, Shenzhen, and Guangzhou, and the amount spent online had gone beyond RMB25bn. On the other hand, there were a total of 2.53 million people shopping online in Wuhan, Chengdu, Shenyang, and Xi'an, considered to be four typical cities in China, with about RMB5bn in online spending. Shanghai had become the most developed online shopping city in China with its more than four million online shoppers spending RMB11.8bn online, and an online shopping penetration rate of 50%. The amount spent online in Shanghai was equivalent to every local resident spending RMB634 every year.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995.
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Mr. Matthew Lovito
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