China Gengsheng Minerals Subsidiary Receives HNTE Rating.
China Gengsheng Minerals Inc., a materials technology company, today announced that its wholly-owned subsidiary, Henan Gengsheng Refractories Co. Ltd., has been designated a National High & New Tech Enterprise (HNTE) by Henan Province.
Being a national HNTE entails lower corporate income tax rate (from the regular 25% to 15% starting this year), faster clearance of customs during overseas travels, preferential terms of bank loans, priority in government approvals of various administrative applications and other operating benefits.
Gengsheng is one of the only three firms in the city of Gongyi to receive the title in the current round of new National HNTE designations.
China Gengsheng Minerals develops, manufactures and markets a broad range of high-tech industrial material products that are capable of withstanding high temperature, saving energy and boosting productivity in certain industries such as steel and oil.
For more information, visit www.gengsheng.com.
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|Date:||May 11, 2009|
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