September 30, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — CleanTech Innovations, Inc. (OTCBB: EVCP), a U.S. firm engaged in China's wind and utilities industries, said that it has received the High-Tech status granted by the Chinese government. The High-Tech status allows CleanTech to qualify for a 15 percent annual corporate income tax rate, rather than the standard 25 percent.

According to CleanTech 15% rate applies from January 2010 through December 2012 and with an option for renewal at the end of 2012. The 10 percent income tax reduction will enhance the company's earnings for 2010 through 2012.  

New York-based CleanTech Innovations designs and manufactures clean technology products including wind turbine towers, bellows expansion joints and pressure vessels, which are used in the wind power, steel, coking, petrochemical, high voltage electricity transmission and thermoelectric industries.

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