ANNOUNCEMENT 01 Jan 2016

In 2016, the government subsidies received by Chinese listed company ZTT changed significantly.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

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

Inception date: 01 Jan 2016 | Removal date: 31 Dec 2016

Financial grant

In 2016, the Shangai-listed company ZTT disclosed in its stock exchange filings the receipt of approximately 142 million USD of government subsidies. This represented a significant decrease in the government subsidies obtained in the prior year (146 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

 
461 462 463 469

AFFECTED PRODUCTS

 
850440 850590 853190 853650 853669 853690 853710 853890 854411 854419 854420 854430 854442 854449 854460 854470
(+ 6 more)