Shenyang Chemical passed review on qualification of the “State High-Tech Enterprise.” Considerable profits would be made available for the company as it enjoyed preferential income taxes, which would be reduced from 25 percent to 15 percent from 2011 to 2013.
The state’s high-tech enterprise refers to the company that carries out R&D for the high-tech fields and formed the enterprise’s independent intellectual property. The review mainly covered the R&D management level, conversion capacity of scientific and technical achievements, number of independent intellectual properties and growing indicators of sales and total assets. All departments and colleagues carried out relevant works to ensure success.
Shenyang Chemical has increased its products with independent intellectual property. Revenues from high-tech products accounted for over 60 percent of the enterprise’s total incomes; particularly, PVC paste resin had already become “China’s Well-Known Products.” Resin gloves and vinyl resin had broken the foreign monopoly that has lasted for many years. Annual scientific research costs accounted for over three percent of total sales revenues. Technicians with a diploma from a junior college or above has already exceeded 30 percent of the total workforce. The company was the first to pass the review among 152 enterprises that were re-examined in Liaoning province.