ANNOUNCEMENT 17 May 2012
May 17th, 2012 - One of China's provinces announced its implementation of financial support for certain firms.
NUMBER OF INTERVENTIONS
Hebei Provincial Department of Commerce, May 17th, 2012. (关于做好2012年外贸公共服务平台建设资金管理工作的通知)
On May 17th, 2012, the regional government in China's Hebei Province announced its implementation of a national plan to promote 'foreign trade demonstration bases'.
The announcement from the region stated that financial grants of up to USD 477,000 (CNY 300m) would be available to eligible firms on an annual basis, based on various performance indicators.
The scheme was altered in 2015 following a complaint at the WTO. Please see related act for full information on the scheme.
This intervention is recorded as an outflow-affecting instrument, as the scheme in question targets firms that conduct export trade in their sectors.