IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
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Inception date: 01 Jan 2018 | Removal date: 31 Dec 2018

Financial grant

In 2018, the Shangai-listed company ZHEJIANG LONGSHENG disclosed in its stock exchange filings the receipt of approximately 321 million USD of government subsidies. This represented a significant increase in the government subsidies obtained in the prior year (125 million USD).

In China it is a legal requirement that publicly-listed firms report any subsidies received from government bodies. The stated subsidy amounts refer to a given calendar year. It is possible that this firm received other forms of state aid that have not been declared.

The affected products and sectors have been chosen based on the "main products" and CSRC sector classification reported in the financial data of the firm. The subsidy amounts in USD were computed using the year-average exchange rate to the Chinese Yuan. The subsidy amount(s) reported here are the cash equivalents as estimated by the recipient firm.

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects the extent of discrimination against foreign commercial interests. On this metric, the state aid proposed here is discriminatory.

AFFECTED COUNTRIES

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TABLE
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AFFECTED SECTORS AND PRODUCTS

341 Basic organic chemicals
2942 Other organic compounds.
294200 Other organic compounds.
343 Tanning or dyeing extracts; tannins; colouring matter n.e.c.
3202 Synthetic organic tanning substances; inorganic tanning substances; tanning preparations, whether or not containing natural tanning substances; enzymatic preparations for pre tanning.
320210 Synthetic organic tanning substances
3204 Synthetic organic colouring matter, whether or not chemically defined; preparations as specified in Note 3 to this Chapter based on synthetic organic colouring matter; synthetic organic products of a kind used as fluorescent brightening agents or as lumin
320411 Disperse dyes and preparations based thereon
320412 Acid dyes, whether or not premetallised, and preparations based thereon; mordant dyes and preparations based thereon
320413 Basic dyes and preparations based thereon
320414 Direct dyes and preparations based thereon
320415 Vat dyes (including those usable in that state as pigments) and preparations based thereon
320416 Reactive dyes and preparations based thereon
320417 Pigments and preparations based thereon
320419 Other, including mixtures of colouring matter of two or more of the subheadings 3204.11 to 3204.19
320420 Synthetic organic products of a kind used as fluorescent brightening agents
320490 Other
346 Fertilizers & pesticides
2814 Ammonia, anhydrous or in aqueous solution.
281420 Ammonia in aqueous solution
347 Plastics in primary forms
3913 Natural polymers (for example, alginic acid) and modified natural polymers (for example, hardened proteins, chemical derivatives of natural rubber), not elsewhere specified or included, in primary forms.
391310 Alginic acid, its salts and esters

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