On March 26, Yokohama Rubber Co., Ltd., announced that Hangzhou Yokohama Tire Co., Ltd., its tire production base in China, had received grants-in-aid totaling 13.47 million yuan (about 210 million Japanese yen) for the period from December 2012 to March 2013 from Hangzhou City and the Hangzhou Economic and Technological Development Zone (HEDA). The grants are in recognition of the company’s economic and environmental activities, and represent the largest amount awarded to a single company (not a group of companies) among about 340 located in the HEDA. As part of their efforts at industrial promotion, the city and the HEDA make grants to companies located in the city and zone every year. The purpose is to help those making contributions to accelerating industrial and economic growth to further develop their businesses.

Source: rubberworld.com