IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 15 Aug 2017 | Removal date: open ended
Still in force

Bailout (capital injection or equity participation)

On the 15th of August 2017, after a joint meeting in Hong Kong, China's CITIC, the largest conglomerate in the country, announced it would be buying 806.6m new shares and USD 320m of convertible bonds in Hongqiao group, a state-owned Chinese aluminium smelter, which is also the world's largest.

The move comes after a series of difficult years for Hongqiao, which has struggled to adapt its business model to the increasingly stringent environmental requirements from the Chinese government, leading to many plants being either idled or shut down.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

414 Copper, nickel, aluminium, alumina, lead, zinc & tin, unwrought
7601 Unwrought aluminium.
760110 Aluminium, not alloyed

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