ANNOUNCEMENT 01 Jan 2018

In 2018, the government subsidies received by Chinese listed company XACIG changed significantly.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

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

Inception date: 01 Jan 2018 | Removal date: 31 Dec 2018

Financial grant

In 2018, the Shangai-listed company XACIG disclosed in its stock exchange filings the receipt of approximately 203 million USD of government subsidies. This represented a significant decrease in the government subsidies obtained in the prior year (248 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

 
341 342 346 347

AFFECTED PRODUCTS

 
280461 280469 280920 281119 283510 283529 284920 290516 290960 291412 291413 291513 291521 291524 291529 291532 291533 291539 291540 291550 291560 291570 291590 291631 291639 291990 292149 292219 292800 293090 293329 293331 293332 293339 293349 293371 293379 293399 294200 310520 380891 380893 390950 391000 391190
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