NXZ Received 30.26 million RMB Financial Subsidy
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Ashima [2011-05-20]
Xibei Bearing Co., Ltd. (NXZ) announced on 4th January that the company received financial subsidy from Ningxia Finance Bureau and the total amount is up to 30.26 million RMB. This subsidy came from the 80 million RMB central government budget which was used for assisting the capital construction expenditure and stimulating the domestic demand in Ningxia. The company will use the subsidy in supporting bearing project for wind power generators.