Ontario, CA— (January 25, 2018) – Kiwa Bio-Tech Products Group Corporation (OTCQB: KWBT) (“Kiwa Bio-Tech” or the “Company”), a manufacturing of leading eco-friendly biological fertilizer products, announced today that the Company signed a Strategic Cooperation Agreement with The People’s Insurance Company (Group) of China Limited (hereafter refer to “PICC”). The agreement was signed with The People’s Insurance Company (Group) of China Limited Xi’an Branch and is focused on providing agricultural insurance and financing for Kiwa’s clients.
The People’s Insurance Company (Group) of China Limited is a state-owned company in China with the largest insurance coverage. In order to promote and upgrade rural insurance and establish the rural financial services chain, Kiwa Bio-Tech and PICC will cooperate to accelerate the development of modern agriculture.
The terms of the agreement include:
- Enlarge agricultural insurance coverage in China.
Kiwa Bio-Tech and PICC will enhance local traditional agricultural insurance development and agricultural insurance settlement services in the Shaanxi province. Innovative agricultural insurance models will be established in order to meet various needs of family farms, cooperatives and other new agricultural production and management businesses. Kiwa Bio-Tech and PICC will also share resources and improve the service system of “Three Rural Issues” which is supported by the China national government and Ministry of Agriculture.
- Develop innovative agricultural financial services and new model of inclusive finance.
Kiwa Bio-Tech and PICC will cooperate to develop loan surety insurance and agricultural insurance for farmers. Insurance funds will be directly used for financing loans by connecting insurance companies and farmers, and will provide the closed loop of “agricultural insurance and microfinance” service mechanism.
- Develop model of “Agriculture materials enterprises and insurance companies” to help alleviate poverty.
Kiwa Bio-Tech will provide qualified production materials to farmers and provide production guidance and technical services, to help them adapt eco-friendly farming methods and reduce agricultural production risks. PICC will develop agriculture insurance; quality assurance and other services to provide risk protection and quality guarantee for farmers through the whole production process, and contribute to sell qualified and credited agricultural products through its e-commerce platform, in a way to increase the farmers’ income.
About Kiwa Bio-Tech Products Group Corporation
Leader in Eco-friendly Agricultural Industry Chain
Kiwa Bio-Tech Products Group Corporation develops, manufactures, distributes, and markets innovative, cost-effective and environmentally safe bio-technological products for agricultural and environmental conservation. The Company’s products are designed to enhance the quality of human life by increasing the value, quality and productivity of crops and decreasing the negative environmental impact of chemicals and other wastes.
Kiwa is dedicated to eco-agricultural development and environmental control by developing, producing, and selling bio-technological products with high technology, low-cost, and high productivity to satisfy the growing market demand. Kiwa’s development is creating a standardized and ecologically safe agricultural industry chain platform. The Company’s development effort is based in China, and has gradually expanded to the international market.
Kiwa uses new bio-technological skills at its core, with organic, ecologically sound, and “green” practices as its theme. The Company strives for customer satisfaction and continued development. Kiwa is dedicated to making safe food, further developing eco-agriculture and upholding a responsibility of contributing to China’s agricultural safety, food safety, and a healthy lifestyle. For more information on Kiwa and its products, please refer to the Company’s website at www.kiwabiotech.com or the Company filings with the United States Securities and Exchange Commission, available for free at www.sec.gov.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.
Kiwa Bio-Tech Products Group Corporation