On August 29, 2016, China Cheng Xin International Credit Rating Co. Ltd. released an announcement to raise the corporate credit rating of Xi’an Hi-tech Holding Co., Ltd. to AAA, with its rating outlook being “steady”.

Xi’an Hi-tech Holding Co., Ltd., a wholly-owned subsidiary of the Administrative Committee of Xi’an Hi-tech Industries Development Zone, is a modern conglomerate with more than RMB 100 million profits and tax.

According to related regulations of the People’s Bank of China, the corporate credit rating is divided into three classes and nine grades. The highest class AAA means that the enterprise has a very strong debt paying ability as well as a very low risk in default and is less likely to be affected by the unfavorable economic environment.