natgillin/translations-raw huggingface dataset:
Den holdning, som den kinesiske regering indtager, er i strid med offentligt tilgængelige oplysninger, der beskriver statsrådet som den øverste administrative myndighed med administrative lovgivningsbeføjelser.
The Commission restates that its assessment of both Decision No 40 and the Regulations attached is that they set out the needs of the national economy.
Ifølge disse kilder er afgørelser fra statsrådet retligt bindende regler.
They set out a strategy for government and for the financial sector and in particular direct lending by financial institutions to encouraged industries such as solar glass.
Ud fra de foreliggende faktiske oplysninger er Kommissionen derfor af den opfattelse, at afgørelse nr. 40 og de gennemførelsesafgørelser, der er knyttet hertil, f.eks. afgørelse nr. 9, er administrative forskrifter og derfor indgår i kinesisk lovgivning.
The GOC were asked to clarify the legal status of a Decision of the State Council such as Decision No 40.
Kommissionen bekræfter derfor analysen i betragtning 191 i solpanelforordningen, hvori det konkluderes, at afgørelse nr. 40 og afgørelse nr. 9 er retligt bindende for andre offentlige organer og erhvervsdrivende.
Their only reply was that it is a Regulation issued by the State Council and does not form part of Chinese law.
Kommissionen analyserede også, hvorvidt den kinesiske regering overdrager til og/eller pålægger privatejede banker i Kina at yde præferencelån til solcelleglasproducenter, jf. grundforordningens artikel 3, stk. 1, litra a), nr. iv).
However they provided no evidence to substantiate that argument.
Artikel 34 i bankloven finder også anvendelse på privatejede banker i Kina.
The view taken by the GOC is in contradiction with publicly available information, which describes the State Council as the highest administrative authority with administrative rule-making power.
Den kinesiske regering og interesserede parter har ikke fremlagt dokumentation for, at den konklusion vedrørende den retlige situation, som man nåede frem til i betragtning 174 i solpanelforordningen, nemlig at den kinesiske regering giver dem instrukser på samme måde som statsejede banker, ophører med at være gældende.
According to those sources, Decisions of the State Council are legally binding rules.
I artikel 34 i bankloven instrueres bankerne i at »udøve deres lånevirksomhed i henhold til nationaløkonomiens og samfundsudviklingens behov og i samme ånd som statens industripolitikker« [15].
On the basis of the facts available, the Commission therefore takes the view that Decision No 40 and implementing Decisions attached to that Decision, such as Decision No 9, are administrative Regulations, and as such part of Chinese law.
Dette indebærer som anført i betragtning 188 i solpanelforordningen, at lånestrategien hos både statsejede forretningsbanker og privatejede banker fastlægges af den kinesiske regering.
The Commission therefore confirms the analysis in recital 191 of the solar panels Regulation, which concludes that Decision No 40 and Decision No 9 are legally binding for other public bodies and economic operators.
Efter fremlæggelsen af oplysninger anfægtede den kinesiske regering den konklusion, at den overdrager til eller pålægger private banker i Kina at varetage funktioner, og den anfægtede navnlig den vægt, Kommissionen har tillagt artikel 34 i bankloven, og anførte, at »det, der udgør »den nationale økonomis behov«, er et fortolkningsspørgsmål og åbenbart kan variere, alt efter hvilken person/hvilket organ der gennemgår bestemmelsen«.
The Commission also analysed whether privately-owned banks in China are entrusted and/or directed by the GOC to provide preferential loans to solar glass producers, within the meaning of Article 3(1)(a)(iv) of the basic Regulation.
Det er bemærkelsesværdigt, at den kinesiske regering i forbindelse med sin uenighed i Kommissionens fortolkning ikke fremlagde sin egen fortolkning af sin egen lovgivning.
Article 34 of the banking law applies also to privately owned banks in China.
Kommissionen behøver imidlertid kun at henvise til konklusionerne i tidligere undersøgelser og til de foreliggende faktiske oplysninger i dette tilfælde for at bekræfte den konklusion, at behovene i den nationale økonomi er fastlagt i planer og forskrifter udstedt af Kina, og at artikel 34 pålægger banker at yde lån i overensstemmelse med disse beskrivelser af den nationale økonomi, hvilket omfatter fremme af produktion af solcelleglas.
The GOC and interested parties have not provided any evidence that the conclusion on the legal situation reached in recital 174 of the solar panels Regulation, namely that the GOC instructs them in the same manner as state-owned banks, ceases to apply.
Konklusionen forbliver derfor, at den kinesiske regering overdrager til og pålægger private banker at låne til tilskyndede erhvervsgrene, jf. artikel 34 i bankloven.
Article 34 of the banking law states that banks are instructed to ‘carry out their loan business upon the needs of national economy and the social development and with the spirit of state industrial policies’ [15].
Kommissionen konkluderer derfor, at i forbindelse med lån fra statsejede forretningsbanker i Kina er der tale om et finansielt bidrag til solcelleglasproducenter i form af en direkte overførsel af midler fra regeringen, jf. grundforordningens artikel 3, stk. 1, litra a), nr. i).
In these circumstances, as set out in recital 188 of the solar panels Regulation, the lending strategy of both SOCBs and privately owned banks is decided by the GOC.
Den samme dokumentation viser også, at staten overdrager det til og pålægger statsejede forretningsbanker (samt privatejede banker) at varetage disse funktioner, og dette betyder derfor, at der foreligger et finansielt bidrag, jf. grundforordningens artikel 3, stk. 1, litra a), nr. iv).
Following disclosure the GOC disputed the conclusion that they entrust or direct private banks in the PRC and disputed in particular the weight that the Commission has given to Article 34 of the banking law, stating that ‘what constitutes the “needs of national economy” is open to interpretation and obviously differs depending on the person/body scrutinising the provision’.
Med hensyn til specificitet bemærker Kommissionen, at den kinesiske regering retter præferencelåneordninger mod et begrænset antal industrier, og solcelleglasindustrien som en del af solcellesektoren er en af dem, jf. betragtning 172 i solpanelforordningen.
It is notable that the GOC, in disagreeing with the Commission’s interpretation, did not present their own interpretation of their own law.
Kommissionen konkluderer derfor, at subsidier i form af præferencelåneordninger ikke er alment tilgængelige og derfor er specifikke, jf. grundforordningens artikel 4, stk. 2, litra a).
However the Commission need only refer to the findings in previous investigations, and to the facts available in this case, to reassert the conclusion that the needs of the national economy are set out in the Plans and Regulations issued by the PRC and Article 34 requires banks to lend in line with these descriptions of the national economy, which includes encouraging the production of solar glass.
Der foreligger en fordel i den udstrækning, at de statslige lån eller lån fra private organer, der har fået overdraget statslige funktioner eller er under statslig kontrol, ydes på mere favorable vilkår, end låntageren ellers kunne opnå på markedet.
The finding remains therefore that the GOC entrusts and directs private banks to lend to encouraged industries in line with Article 34 of the Banking Law.
Som i tidligere undersøgelser forsøgte Kommissionen at efterprøve kreditrisikovurderinger foretaget af banker, der lånte penge til virksomhederne i stikprøven i UP.
The Commission therefore concludes that in the case of loans provided by SOCBs in the PRC, there is a financial contribution to solar glass producers in the form of a direct transfer of funds by the government as set out in Article 3(1)(a)(i) of the basic Regulation.
Under alle omstændigheder har Kommissionen fastslået i tidligere undersøgelser, at kreditvurderinger af kinesiske virksomheder er fordrejet på grund af statsstøtte, og at der ikke er tegn på en meningsfyldt risikovurdering af lånemodtagere.
The Commission disagrees with this statement, and notes that the GOC made the same claims in previous investigations, which were also not accepted.
Kommissionen anvendte derfor samme metode som i solpanelundersøgelsen og betragtede alle de pågældende virksomheder som havende en non-investment grade »BB«-rating, jf. kreditvurderingsselskabet Bloomberg.
The 12th Five Year Plan states that it was ‘deliberated and approved by the National People’s Congress, and it has the effect of law.’
Præmien på obligationer udstedt af virksomheder med BB-rating over for obligationer udstedt af virksomheder med AAA-rating (som Kina har på sine obligationer), som registreret af Bloomberg, blev derefter lagt til PBOC's gennemsnitlige udlånsrente i UP.
The Commission therefore concludes that the subsidies in form of preferential lending are not generally available and are therefore specific in the meaning of Article 4(2)(a) of the basic Regulation.
Resultatet blev en referencerentesats for UP for lån til virksomhederne i stikprøven i CNY på 10,37 %.
A benefit exists to the extent that government loans, or loans from private bodies entrusted or directed by the government, are granted on terms more favourable than the recipient could actually obtain on the market.
Ved at sammenligne denne referencerentesats med den faktiske rente, som de berørte virksomheder pålagdes i UP, konkluderede Kommissionen, at der ydes lån til solcelleglasindustrien på vilkår, der ligger under markedsvilkårene og -betingelserne.
As in previous investigations the Commission attempted to verify the credit risk assessments carried out by the banks that lent money to the sampled companies during the IP.
Efter fremlæggelsen af oplysninger anfægtede den kinesiske regering Kommissionens valg af reference og de konklusioner, Kommissionen har draget ud fra sammenligningen af referencerentesatsen og den faktiske betalte rente.
No evidence was provided by the companies as to their credit rating, and the banks did not cooperate with the investigation.
Sammenligningen af referencerentesatsen og den faktisk betalte rente viser klart, at de eksporterende producenter i stikprøven, der lånte af kinesiske banker i CNY, betalte mindre end den normale markedsrente for virksomheder i deres finansielle position.
The Commission was therefore unable to see any evidence that loans to solar glass companies were based on a risk assessment, and the interest rate set as a result of such exercise.
For det andet var Kommissionen bekendt med, at PBOC hævede udlånsgulvet i juli 2013 og nævnte det i dokumentet med fremlæggelse af oplysninger.
In the absence of any information provided by the GOC, the exporting producers or the banks, the Commission relied on facts available to establish whether preferential lending in the PRC did in fact confer a benefit on the sampled exporting producers who had loans from banks in the PRC.
Dette ændrer imidlertid ikke den konklusion, at den kinesiske regering griber ind i de kinesiske bankers udlånsadfærd i Kina, navnlig gennem anvendelsen af afgørelse nr. 40 og de vedlagte forskrifter og bestemmelserne i artikel 34 i bankloven.
The Commission, as in the solar panels investigation, started with the officially published central bank interest rates from the PBOC for loans in Chinese Renminbi Yuan (CNY).
For det tredje beregnede Kommissionen kun en reference for lån i CNY, da de eksporterende producenter i stikprøven ikke havde lån i EUR eller USD fra de kinesiske banker.
The average interest rate over the investigation period was 6,26 %.
Endelig udbad den kinesiske regering sig yderligere oplysninger om, hvorfor Kommissionen fandt, at de eksporterende producenter i stikprøven ville opnå en BB-kreditvurdering.
The Commission then adjusted the interest rate of the PBOC to take account of the credit risk of the companies concerned.
Årsagen til, at der blev valgt en BB-kreditvurdering, var, at Kommissionen ikke modtog dokumentation for, at der var blevet foretaget nogen kreditvurdering for nogen eksporterende producent i stikprøven som følge af manglende samarbejdsvilje fra de berørte banker.
However they did not provide any independent credit ratings or similar information that would allow the Commission to calculate a credit rating.
BB-kreditvurderingen er heller ikke en omvendt følgeslutning, og den er faktisk til fordel for de berørte virksomheder i stikprøven, da det er den bedste non-investment grade på de finansielle markeder.
In any event, the Commission has established in previous investigations that credit ratings of Chinese firms are distorted by government support and that there is no evidence of any meaningful risk assessment of loan recipients.
I henhold til artikel 28 var Kommissionen forpligtet til at gøre brug af de bedste foreliggende faktiske oplysninger, der blev taget fra konklusionerne af solpanelforordningen, som anvendte en BB-kreditvurdering for de virksomheder, der indgik i stikprøven.
The Commission has therefore taken the same methodology as the solar panels investigation and considered all of the companies concerned as having a non-investment grade ‘BB’ rating as defined by the Bloomberg credit rating company.
Dette blev anset for at være rimeligt i det foreliggende tilfælde, og der blev ikke modtaget dokumentation efter fremlæggelsen af oplysninger for, at virksomhederne i stikprøven fik en anden kreditvurdering af de berørte banker.
The premium on bonds issued by companies with BB ratings against bonds issued by companies with AAA ratings (which the PRC has on its bonds), as recorded by Bloomberg, was then added to the average lending rate of the PBOC during the IP.
Konklusion
The result was a benchmark interest rate for the IP, for loans to the sampled companies in CNY, of 10,37 %.
Ud fra undersøgelsens konklusioner konkluderer Kommissionen, at solcelleglasindustrien i Kina nød godt af præferencelån i UP både fra statsejede banker og fra private banker.
By comparing this benchmark interest rate to the actual interest rate charged during the IP to the companies concerned the Commission concluded that loans are granted to the solar glass industry at below-market terms and conditions.
Finansieringen af solcelleglasindustrien udgør et subsidie i henhold til grundforordningen, da
Following disclosure the GOC disputed the Commission’s choice of benchmark and the conclusions that the Commission has drawn from the comparison between the benchmark and the actual interest paid.
staten yder et finansielt bidrag, jf. artikel 3, stk. 1, litra a), nr. i),
The comparison between the benchmark and the actual interest paid clearly shows that the sampled exporting producers that borrowed from Chinese banks, in CNY, paid less than the normal commercial interest rates for companies in their financial position.
staten overdrager eller pålægger varetagelse af funktioner, jf. artikel 3, stk. 1, litra a), nr. iv), og
Second, the Commission was indeed aware that the PBOC lifted the floor on lending in July 2013 and mentioned it in the disclosure document.
der derved opnås en fordel, jf. artikel 3, stk. 2.
However this does not change the conclusion that the GOC interferes in the lending behaviour of banks in China, in particular through the application of Decision No 40 and the attached Regulations, and the provisions of Article 34 of the Banking Law.
Da der er tale om et finansielt bidrag, en fordel for de eksporterende producenter og specificitet, bør dette subsidie betragtes som udligningsberettiget.
Third the Commission only calculated a benchmark for loans made in CNY, as the sampled exporting producers did not have loans in EUR or USD from Chinese banks.
Efter fremlæggelsen af oplysninger anfægtede den kinesiske regering anvendelsen af konklusioner fra tidligere undersøgelser for at nå frem til konklusioner vedrørende subsidiering i denne sag og hævdede navnlig, at Kommissionen var alt for afhængig af konklusionerne af solpanelforordningen.
Finally the GOC requested more information as to why the Commission considered that the sampled exporting producers would be credit rated BB.
Denne påstand blev afvist.
The reason that BB credit rating was chosen was because the Commission received no evidence that any credit rating was calculated for any sampled exporting producer because of the lack of cooperation from the banks concerned.
Som tidligere bemærket var Kommissionen på grund af den manglende samarbejdsvilje fra bankerne i Kina tvunget til at anvende bestemmelserne i artikel 28 og de bedste foreliggende faktiske oplysninger.
The BB credit rating is also not adverse inference, and in fact works in favour of the sampled companies concerned, as it is the best non-investment grade on the financial markets.
Solpanelundersøgelsen er den seneste og indeholder de mest ajourførte konklusioner vedrørende subsidiering i Kina.
Under the terms of Article 28 the Commission was obliged to use best facts available, which were taken from the conclusions of the solar panels Regulation, which used a BB credit rating for the companies sampled there.
Solpaneler er ikke samme vare som solcelleglas, men de er begge i samme sektor for ny energi og omfattet af de samme statslige planlægningsdokumenter.
This was considered reasonable in this case and no evidence was received after disclosure that the sampled companies were given a different credit rating by the banks concerned.
I mangel af andre oplysninger er anvendelsen af konklusionerne i solpanelundersøgelsen som »bedste foreliggende faktiske oplysninger« passende.
Conclusion
I begge tilfælde fandt hævelsen af rentegulvet sted efter udløbet af begge undersøgelsesperioder og påvirker derfor ikke anvendelsen af artikel 28 og konklusionerne i solpanelundersøgelsen som bedste foreliggende faktiske oplysninger.
On the basis of the findings of the investigation, the Commission concludes that the solar glass industry in China benefited from preferential loans in the IP, both from state-owned banks and from private banks.
Alle undtagen én af virksomhederne i stikprøven modtog lån både fra statsejede forretningsbanker og private banker.
The financing of the solar glass industry constitutes a subsidy within the meaning of the basic Regulation as there is
En virksomhed blev finansieret udelukkende via sit offshoremoderselskab, og der blev ikke ydet lån fra banker etableret i Kina.
a financial contribution by government as set out in Article 3(1)(a)(i);
Efter fremlæggelsen af oplysninger anfægtede en virksomhed i stikprøven Kommissionens konklusion og anførte, at Kommissionen ikke anmodede virksomheden om at fremlægge sin uafhængige kreditvurdering.
entrustment and direction by government as set out in Article 3(1)(a)(iv); and
Kommissionen anmodede imidlertid virksomheden om at fremlægge alle oplysninger vedrørende de lån, den modtog, men virksomheden fremlagde ikke en uafhængig kreditvurdering.
a benefit is thereby conferred as required by Article 3(2).
Hvis virksomheden lå inde med sådanne oplysninger, skulle den ud fra påstandene i klagen og de oplysninger, der blev anmodet om i spørgeskemaet, have afgivet dem.
In view of the existence of a financial contribution, a benefit to the exporting producers and specificity, this subsidy should be considered countervailable.
Og navnlig i betragtning af oplysningerne i dokumentet med fremlæggelse af oplysninger skulle den, hvis den havde en uafhængig kreditvurdering, have fremlagt den straks.
Following disclosure the GOC challenged the use of findings from previous investigations to reach conclusions on subsidisation in this case, and in particular alleged that the Commission was over-reliant on the findings of the solar panels Regulation.
Denne påstand afvises derfor.
This allegation was rejected.
Beregning af subsidiebeløbet
As previously noted, given the lack of cooperation from the banks in the PRC the Commission was forced to use the provisions of Article 28 and best facts available.
Ifølge grundforordningens artikel 6, litra b), bør fordelen ved præferencelån beregnes som forskellen mellem den rente, der er betalt, og den rente, der ville skulle betales for et tilsvarende lån på markedsvilkår, som virksomheden faktisk kunne opnå på markedet.
The solar panels investigation is the most recent, and contains the most up-to-date findings on subsidisation in China.
Fordelen blev beregnet for UP som forskellen mellem den faktisk betalte rente i UP og den rente, der ville skulle betales ifølge referencesatsen.
In the absence of other information, therefore, the use of findings in the solar panels investigation as ‘best facts available’ is appropriate.
De subsidiemargener, der blev beregnet for de eksporterende producenter i stikprøven ud fra denne metode er følgende:
The GOC also alleged that significant changes had taken place between the solar panels investigation and this one, in particular the lifting of the floor on interest rates by the PBOC in July 2013.
Virksomhedens navn
This allegation was rejected as the conclusions from the solar panels investigation refer to that investigation period, just as this investigation refers to its own investigation period.
Subsidiemargen
In both cases the lifting of the floor took place after the end of both investigation periods and therefore does not affect the use of Article 28 and the findings of the solar panels investigation as best facts available.
Andre præferencelåneordninger
All but one of the sampled companies received loans from both SOCBs and private banks.
De eksporterende producenter i stikprøven opnåede ingen fordele i forbindelse med eksportkreditsubsidieprogrammer, kreditlinjer, eksportgarantier, »Green Express«-programmet eller fordele gennem adgang til offshore-holdingselskaber i UP.
One company was financed solely via its offshore parent company and no lending was made by banks established in the PRC.
Tilskudsprogrammer
Following disclosure one sampled company disputed the conclusion of the Commission, and stated that the Commission did not ask the company to provide their independent credit rating.
Virksomhederne i stikprøven opnåede ingen fordele af programmerne »Famous Brands« eller »China World Top Brands« i UP.
However the Commission asked the company to provide all information regarding the loans that it received, but the company did not provide an independent credit rating.
Særlige tilskudsprogrammer og tilskud
If the company had such information then given the allegations in the complaint and the information requested in the questionnaire it should have provided it.
Virksomhederne i stikprøven modtog betydelige engangstilskud fra forskellige offentlige myndigheder på mange regeringsniveauer, som medførte en fordel i UP.
And in particular given the information in the disclosure document, if it had an independent credit rating it should have provided it immediately.
Dette blev konstateret under kontrolbesøget hos de berørte virksomheder og ikke oplyst i spørgeskemabesvarelserne fra de berørte virksomheder, og det blev heller ikke oplyst i spørgeskemabesvarelsen fra den kinesiske regering, som der blev anmodet om.
This argument is therefore rejected.
I klagen hævdedes det, at producenterne af solcelleglas modtog disse engangstilskud fra de regionale og lokale myndigheder, og at de herved opnåede en fordel, da midlerne blev modtaget uden behørig undersøgelse [16].
Calculation of the subsidy amount
I indledningsmeddelelsen slås det også fast, at »tilskudsprogrammer« er en subsidiepraksis, der anvendes til at støtte solcelleglasindustrien.
Article 6(b) of the basic Regulation provides that the benefit on preferential loans should be calculated as the difference between the amount of interest paid and the amount that would be paid for a comparable commercial loan which the firm could obtain on the market.
Disse tilskud blev givet til virksomhederne af myndigheder på nationalt plan, provins-, by- og amtsplan samt lokalt plan, og alle forekom at være specifikke for de berørte virksomheder eller specifikke i forhold til beliggenhed eller type erhvervsgren.
As stated, with the absence of any meaningful risk assessment, the Commission established a market benchmark for comparable commercial loans.