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China YCT International: China YCT International (CYIG) Announces Its Subsidiary Has Been Selected as One of the Top 10 Enterpr

  //health-fitness.news-articles.net/content/2009/ .. -been-selected-as-one-of-the-top-10-enterpr.html
  Published in Health and Fitness on Thursday, January 8th 2009 at 6:22 GMT, Last Modified on 2009-01-08 06:23:01 by Market Wire

NEW YORK, NY--(Marketwire - January 8, 2009) - China YCT International Group Inc. (OTCBB: [ CYIG ]) today announced that its wholly owned subsidiary, Shandong Spring Pharmaceutical Co., Ltd, has been selected as one of the top 10 biotechnology enterprises of Jining City, Shandong province.

The Company announced that it has been awarded the honor of "Jining Civic Top 10 Enterprises" in the high-tech bioengineering sector. Companies were judged on their sales revenue in the most recent year, production scale and capacity, actual output, and tax contribution. In addition, other selection factors included annual R&D expenses and the educational level of R&D staff.

"The award which was conferred by the Jining Civic council entitles the Company to access various favorable local government's development policies and tax holiday treatments. Jining local government proclaimed that in addition to certain tax holiday treatments, every honor-awarded enterprise is authorized for a prize of more than 100,000 RMB or approximately $14,705 USD from the Jining local government," stated Mr. Tinghe Yan, President of China YCT International.

According to the "New Corporation Tax Law," and "Shandong Provincial Stimulus on Improving local High-tech Companies," as a company in the high-biotech industry, the Company also has been granted the right to enjoy a preferential tax rate of 15% which is 10% lower than the tax rate that applies on most of other companies.

About China YCT International

Established in 1998, China YCT International Group, Inc., through its operating subsidiary, Shandong Yongchuntang Biology Technology Co. Ltd. ('Shandong YCT'), a corporation organized under the laws of the People's Republic of China, is a high-tech enterprise, which applies modern biological technology and integrates research & development, production and sales of ginkgo healthcare products, ginkgo cosmetics, daily-use chemical products, ginkgo glycoside products and biological medicines. All of Shandong YCT's businesses are currently in China.