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Aoxing Pharmaceutical Company Announces Special Funding From Hebei Province in China
Date:11/3/2011

JERSEY CITY, N.J., Nov. 3, 2011 /PRNewswire/ -- Aoxing Pharmaceutical (NYSE Amex: AXN) ("Aoxing Pharma"), a specialty pharmaceutical company focusing on research, development, manufacturing and distribution of narcotic, pain-management, and addiction treatment pharmaceuticals, today announced that its operating subsidiary in China, Hebei Aoxing Pharmaceutical Group Company, has received a special funding of 2 million RMB (approximately $315,000) from the Industry and Information Technology Department and the Finance Department of Hebei Province in China.  The grant was for manufacturing facility improvements in the form of interest payment assistance on the Company's existing bank loans.

Zhenjiang Yue, Aoxing Pharma's Chairman and CEO, commented, "We appreciate the continued support from our local government here in China."  

About Aoxing Pharmaceutical Company, Inc.
Aoxing Pharmaceutical Company, Inc. is a US incorporated specialty pharmaceutical company with its operations in China, specializing in research, development, manufacturing and distribution of a variety of narcotics and pain-management products. Headquartered in Shijiazhuang City, outside Beijing, Aoxing has the largest and most advanced manufacturing facility in China for highly regulated narcotic medicines. Its facility is one of the few GMP facilities licensed for the manufacture of narcotic medicines by the China State Food and Drug Administration (SFDA). It has a joint venture collaboration with Johnson Matthey Plc to produce and market narcotics and neurological drugs in China. It also has strategic alliance partnerships with QRxPharma, and Phoenix PharmaLabs, Inc.  For more information, please visit: www.aoxingpharma.com.

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