FUZHOU, China, April 8, 2011 /PRNewswire-Asia-FirstCall/ --China Yida Holding Company (Nasdaq: CNYD) ("China Yida" or the "Company"), a leading diversified entertainment enterprise in China, today announced that its China Yang-sheng (Nourishing Life) Tourism Project (the "Project") was praised and supported by Jiangxi Government.
On April 1, 2011, a group of government officials from provincial, city and county levels visited China Yida's subsidiary, the Jiangxi Zhangshu Yida Tourism Development Company. The group was led by Mr. Hong Zhu, Deputy Governor of Jiangxi Province, who is in charge of the province's tourism development. The officials met with China Yida's core team members managing the project and listened to their presentation on the planning and development of the Nourishing Life Paradise, which will provide visitors with a unique cultural experience focused on natural hot springs and traditional Chinese herbal medicines, inspiring by Taoist principles.
After completion of planning and design, the Company has started the construction work for its first phase of Zhangshu China Yang-sheng (Nourishing Life) Tourism Project from building roads to the scenic sites. Management expects to complete the first phase of the Project and to begin collecting revenues by the end of 2012.
Mr. Hong Zhu spoke highly of the Project's overall market positioning and tourism planning. "This is a very good tourism project. It will significantly promote the transition and upgrade of Jiangxi's tourism industry by changing it from simple sightseeing to an integrated experience, combining culture, leisure and vacation elements. It is consistent with the trend of global tourism development. We should support it as a key project in Jiangxi," Mr. Zhu commented.
On March 24, 2011, Mr. Xian Hu, Head of Department of Land and Resources of Jiangxi Province, also visited Jiangxi Zhangshu Yida Tourism Development Company. After learning about the development of the Project, he gave recognition to our project team members and indicated that related authorities will support and coordinate a diverse team working toward the completion of the Project.
"We are happy to know that the China Yang-sheng (Nourishing Life) Tourism Project is highly recognized by Jiangxi Government, which is willing to provide support to accelerate our development and progress. We look forward to developing an exceptional tourism project, which will create a memorable experience for visitors, contribute to the government's development goals for the region, and create value for our shareholders," commented Mr. Minhua Chen, Chairman and CEO of China Yida.
About China Yida
China Yida is a leading diversified entertainment enterprise focused on China's fast-growing tourism and media industries and headquartered in Fuzhou City, Fujian province of China. Additionally, the Company provides tourism management services and specializes in the development, management and operation of natural, cultural and historic scenic sites. China Yida currently operates the Great Golden Lake tourist destination (Global Geopark, including Golden Lake, Shangqing River, Zhuangyuan Rock, Luohan Mountain and Taining Old Town), Hua'An Tulou tourist destination (World Culture Heritage, including Dadi ulou cluster and the Shangping Tulou cluster) and China Yunding Park (National Park, including Flower Terrace, Heavenly Lake, Colorful Waterfall, Red River Valley and Jade Valley). China Yida is also developing three additional tourism projects including Ming Dynasty Entertainment World, China Yang-sheng (Nourishing Life) Tourism Project and the City of Caves. The Company's operating scenic sites total in aggregate over 300 square kilometers in area. The Company's media business provides operations management services including content and advertisement management for the Fujian Education Television Station ("FETV", a top-rated provincial education television channel) and "Journey through China on the Train" (an advertisement-embedded travel program, currently the only on-board media program from a third party authorized by Ministry of Railways). For further information, please contact the Company directly or visit its website at http://www.yidacn.net .
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate, "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of China Yida Holding Co., Inc. (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov .