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 2015 | Removal date: 31 Dec 2015

Financial grant

In 2015, the Shangai-listed company BBMG disclosed in its stock exchange filings the receipt of approximately 969 million USD of government subsidies. This represented a significant decrease in the government subsidies obtained in the prior year (1098 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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AFFECTED SECTORS AND PRODUCTS

151 Monumental or building stone
2516 Granite, porphyry, basalt, sandstone and other monumental or building stone, whether or not roughly trimmed or merely cut, by sawing or otherwise, into blocks or slabs of a rectangular (including square) shape.
251690 Other monumental or building stone
153 Sands, pebbles, gravel, natural bitumen & asphalt
2505 Natural sands of all kinds, whether or not coloured, other than metalbearing sands of Chapter 26.
250510 Silica sands and quartz sands

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