ANNOUNCEMENT 01 Jan 2015

In 2015, the government subsidies received by Chinese listed company HUAFU changed significantly.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

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

Inception date: 01 Jan 2015 | Removal date: 31 Dec 2015

Financial grant

In 2015, the Shezhen-listed company HUAFU disclosed in its stock exchange filings the receipt of approximately 469 million USD of government subsidies. This represented a significant increase in the government subsidies obtained in the prior year (353 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

 
263 264 266 267 268

AFFECTED PRODUCTS

 
500400 510610 510620 520511 520512 520513 520514 520521 520522 520523 520524 520526 520527 520531 520532 520534 520542 520543 520544 520612 520613 520614 520622 520623 520624 520632 520842 520849 520852 520949 521041 530890 540742 540771 540772 540792 550921 550922 550931 550932 550941 550952 550953 550961 550969 550991 550999 551090 580133
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