ANNOUNCEMENT 01 Jan 2015

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

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

KIBING 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 Shangai-listed company KIBING disclosed in its stock exchange filings the receipt of approximately 218 million USD of government subsidies. This represented a significant decrease in the government subsidies obtained in the prior year (778 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

 
231 342 354 371 372 381 469 473 474

AFFECTED PRODUCTS

 
110290 283630 330290 690911 691010 691110 700510 700521 700529 702000 852859 852990 853180 940330 940360 940389
(+ 6 more)