ANNOUNCEMENT 01 Jan 2018

In 2018, the government subsidies received by Chinese listed company CRSC increased significantly.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

CRSC financial disclosure statements found in the Wind database (www.wind.com.cn). Last accessed on 27 Juli, 2021.

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

Financial grant

In 2018, the Shanghai-listed firm CRSC disclosed in its stock exchange filings the receipt of approximately 194 million USD of government subsidies. This represented a significant increase in the government subsidies obtained in the prior year (170 million USD).

CRSC is a central State-owned Enterprise based in Beijing, Beijing Municipality.

This firm is registered as one of Chinas Strategic Emerging Industries - meaning it is in an industrial sector that the Chinese government has deemed of particular importance to the countrys economic progress.

Specifically, CRSC is recorded as being in the New Generation IT industry - Next Generation Information Network industry.

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.