On October 26, CITIC Construction was recognized as a high and new tech enterprise by the Ministry of Science and Technology of the People's Republic of China (PRC), and the qualification is valid from 2021 to 2023.
The recognition represents a full affirmation of the R&D and innovation system, the staff's R&D and innovation work, and the R&D achievements in engineering technology of CITIC Construction. In the next three years, CITIC Construction can enjoy preferential tax policies according to the law, and have advantages in terms of government subsidies, recruiting high-level technical talents, and undertaking major governmental science and technology projects. In the meantime, the recognition will stimulate the company's enthusiasm in R&D and innovation, build the capability of technical services of its industry-university-research platform, standardize the guidelines for R&D and innovation, and improve the company's technological innovation and management. The innovation capability of high-tech services will become one of the endogenous driving forces for CITIC Construction's sustainable development, enhance its core competitiveness, and lay a solid foundation for its development.