ANNOUNCEMENT 01 Jan 2020In 2020, the government subsidies received by Chinese listed company EFORT decreased significantly.
NUMBER OF INTERVENTIONS
EFORT financial disclosure statements found in the Wind database (www.wind.com.cn). Last accessed on 27 Juli, 2021.
EFORT is a regional State-owned Enterprise based in Wuhu, Anhui Province.
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, EFORT is recorded as being in the High-end equipment manufacturing - smart manufacturing equipment 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.