IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

Yes

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
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Inception date: 01 Jan 2020 | Removal date: 31 Dec 2020

Financial grant

In 2020, the Shenzhen-listed firm WANFENG AUTO WHEEL disclosed in its stock exchange filings the receipt of approximately 152 million USD of government subsidies. This represented a significant increase in the government subsidies obtained in the prior year (132 million USD).

WANFENG AUTO WHEEL is a private company based in Shaoxing City, Zhejiang Province.

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

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

491 Motor vehicles, trailers & semi-trailers; parts
8708 Parts and accessories of the motor vehicles of headings 87.01 to 87.05.
870870 Road wheels and parts and accessories thereof
870894 Steering wheels, steering columns and steering boxes; parts thereof
870899 Other

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