ANNOUNCEMENT 01 Jan 2017

In 2017, the government subsidies received by Chinese listed company YUNNAN BAIYAO changed significantly.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

YUNNAN BAIYAO financial disclosure statements found in the WIND database (www.wind.com.cn). Last accessed on 25 June 2019.

Inception date: 01 Jan 2017 | Removal date: 31 Dec 2017
Still in force

Financial grant

In 2017, the Shezhen-listed company YUNNAN BAIYAO disclosed in its stock exchange filings the receipt of approximately 116 million USD of government subsidies. This represented a significant decrease in the government subsidies obtained in the prior year (117 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 SECTORS

 
351 352 353 354

AFFECTED PRODUCTS

 
293890 300410 300420 300431 300432 300439 300440 300450 300490 300510 300590 300650 320910 320990 321410 321519 321590 330210 330510 330610 330690 340220 340290 340311 380992 382200 382410 382430 382440 382472 382478 382490
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