CAMC Received 30 Million RMB of Award Fund
Date:2013-06-28 Author:dennis Source:www.chinatrucks.com
www.chinatrucks.com : News released on June 27th that CAMC has been rewarded 30 million RMB of R&D funds by the provincial authority of Anhui province. The funds is of great help to the profitability of the company.
According to the document issued by the financial department of Anhui province, the authority has decided to grant a total of 30 million RMB to CAMC to be used for R&D. By far, the fund has been delivered to the company.
n accordance with accounting standards, the fund shall be seen as non-business income and should be considered as profits.
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