China BAK Battery, Inc. (CBAK)

[Ecomike]

SHENZHEN, China, Nov. 16, 2011 /PRNewswire-Asia/ -- China BAK Battery, Inc. ("China BAK" or the "Company") (NASDAQ: CBAK), a leading global manufacturer of lithium-based battery cells, today announced that the Company was recognized as a "National-certified Enterprise Technology Center" at the China Hi-Tech Fair 2011 being held November 16-21, 2011 in Shenzhen. The Company was previously recognized as a provincial-level Shenzhen Enterprise Technology Center in 2005.

A number of agencies of the national government of the People's Republic of China, including the National Development and Reform Commission, the Ministry of Science and Technology, the National Ministry of Finance, the General Administration of Customs and the State Administration of Taxation, set forth criteria for the recipients of this honor, including technological innovation and industry leadership. The National Development and Reform Commission then presents a token of this recognition to selected companies.

In accordance with the tax policies of the National Ministry of Finance and the State Administration of Taxation with respect to a company recognized as a National-certified Enterprise Technology Center, China BAK will enjoy exemptions from import duty, VAT relating to importation, and consumption tax for scientific research and experiments. The Company will also have an opportunity to receive grants for research and development activities under the National-certified Enterprise Technology Center program and certain local government programs. The Company will be evaluated biennially to determine whether it may maintain such recognition.

"We believe it is a great honor for China BAK to be invited to the China Hi-Tech Fair 2011 as a representative of enterprises in Shenzhen and to receive one of the most prestigious technological awards in China. This award recognizes China BAK's strong R&D capabilities and technical strength in the lithium-ion battery industry. We believe that this recognition reflects well on China BAK's industry standing and potential," commented Mr. Xiangqian Li, CEO of China BAK.