ANNOUNCEMENT 01 Jan 2011

In 2011, the government subsidies received by Chinese listed company CSSC HOLDINGS changed significantly.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

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

Inception date: 01 Jan 2011 | Removal date: 31 Dec 2011

Financial grant

In 2011, the Shangai-listed company CSSC HOLDINGS disclosed in its stock exchange filings the receipt of approximately 239 million USD of government subsidies. This represented a significant decrease in the government subsidies obtained in the prior year (253 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

 
491 493 499

AFFECTED PRODUCTS

 
870590 870840 870899 871200 890120