ANNOUNCEMENT 25 Dec 2015

In December 2015, the government of China announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 25 Dec 2015 | Removal date: 24 Jan 2016
Still in force

Financial grant

 On 25 December 2015, the Chinese state-owned steel manufacturer Lingyuan Iron & Steel Co. Ltd. announced that it has received state aid from the city government. The subsidy amounted to 790 million RMB, roughly 122 million USD.
According to media reports, the company has been the largest tax contributor in the local city and has been receiving subsidies since 2012 (no such information was found on its English website).
A state measure 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 SECTORS