Hunan Xiangwei Co, Ltd. was recently awarded with the title and certificate of high-tech enterprise. This is done in accordance with document requirements of the national high-tech enterprise affirmation management office. The document is jointly issued by Hunan’s provincial science and technology department, finance department, national taxation bureau, and local taxation bureau. This honor is taken as a support and confirmation of the government over its achievements. It also demonstrates the corporate image and competitiveness. According to relevant rules, the company, having been identified as a high-tech enterprise, may apply for taxation reduction preferential policy and pay only 15 percent corporate income taxes in the first three years.