China Food Services, Corp. Announces Company Update

Jun 10, 2010, 09:58 ET from China Food Services, Corp.

BEIJING and MIAMI, June 10 /PRNewswire-FirstCall/ -- China Food Services, Corp. formally known as Golden Dragon Holdings, Inc. (Other OTC: GDHI), announces the following updates

Corporate and Legal.

The Company has filed the paperwork with the CUSIP Service Bureau for a new CUSIP number and has also submitted with FINRA for a new trading symbol.  The company will not change GDHI's current share structure.  The company has also renewed its 2010 Hong Kong corporate license for Golden Dragon Food & Beverage Import & Export Company of Hong Kong, Ltd. In addition the Company Chinese Corporate Attorney is currently renewing our corporate and all our operating licenses for the Peoples Republic of China, once this is approved by the Chinese Government; the Company will disclose this information via the PinkOTC.

Corporate Operations

During the end of May the Company has received 4 containers, in which 1 was a 20ft container of Spanish wine.  The Company has currently over 100 SKU's of products.  The Company also announced that is has reached over 500 stores in which products are being distributed to Beijing.  The Company has cleared China Customs and is currently waiting for Sanitation approval from CIQ.  The Company estimates to receive this by mid next week.  There was also a construction of a wine room at the Company's warehouse.  This wine room is temperature controlled and has the capacity to hold over 50,000 bottles of wine.

Sales and Marketing

In addition, the Company has started to place its Wines at the Renaissance Hotel in Beijing and it has hired an exclusive sales person for the promotion and sales of wine in the hotels, night clubs and restaurants in Beijing.  The company has started weekend promotions in its top selling stores to promote various products.  The company was invited to an ATO Agriculture Trade Office Event in Guangzhou this week, in which US Grown products were promoted in China by a delegation from Idaho led by the Governor of Idaho, Mr. Otter.  Mr. Yglesias met various food representatives from the state of Idaho, including the Governor of Idaho Mr. Butch Otter and the First Lady Ms. Otter.

About China Food Services, Corp.

China Food Services, Corp. owns and operates Golden Dragon Food & Beverage Import & Export Company of Hong Kong, Ltd. (GDHK) in central Hong Kong and Beijing Jin Long Fei International Trading Co., Ltd in China (BFGD). China Food Services, Corp. has agreements with U.S. food manufacturers. GDHI acts as a buying agent for GDHK, negotiating vendor contracts and services with U.S. food and beverage industry partners. The Hong Kong Company plays a strategic role in the importation of products into the Chinese market by leveraging the Closer Economic Partnership Arrangement (CEPA) with China. Through this arrangement, Beijing Flying Golden Dragon International Trading Co., Ltd distributes some of the most popular U.S. food and beverage brand products directly into the hypermarkets, supermarkets and convenience stores in China. The Company is responsible for order fulfillment for its clients in China, as well as providing advertising and promotion (A&P) services for its U.S. food and beverage products.

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.

SOURCE China Food Services, Corp.