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Government Assistance: China IT Units Win Special Status

October 20, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) – China Information Technology, Inc., (NASDAQ: CNIT) said that its subsidiaries, Information Security Software Co., Ltd. and Shenzhen Zhongtian Technology Development Co., Ltd., were each granted "National High-Tech Enterprise" status by the PRC government.

National HT Status is awarded by the PRC government to recognize companies that are technological leaders in their fields and industries, consistently invest in new product development and have substantial revenues generated by their own proprietary patented or innovative products.

Award recipients benefit from a series of preferential tax policies that are created by the government to encourage domestic and foreign investment in advanced technologies in China, and to stimulate and promote the production of high-tech products and the provision of high-tech related services and technology in China.  

China-based China Information Technology, through its subsidiaries and other consolidated entities, specializes in geographic information systems, digital public security and hospital information systems.

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