natgillin/translations-raw huggingface dataset:
For så vidt angår de faktiske omstændigheder i forbindelse med ydelsen af subsidiet, undersøgte Kommissionen også detaljerne i forbindelse med Pirellis integration i CNRC's struktur.
Furthermore, as mentioned in recital (349) above, the objectives of the Guiding Opinions are ‘to actively develop’ and ‘tap into’ markets in developed countries'.
Som nævnt i betragtning 383 var formålet med Cindas intervention at fremme omstruktureringen og integrationen af Pirellis forretningssegment for lastbildæk i den kinesiske eksporterende producent Aeolus.
The SRF only operates with foreign exchange funds (i.e. USD and EUR).
I henhold til aftalen mellem indehaverne af kvoterne, Cinda og CNRC, gjorde Cinda sin egenkapitalinvestering i Pirelli Industrial betinget af en plan om at indskyde alle sine interesser i Aeolus inden en bestemt tidsfrist.
Contrary to the banks, providing resources both in RMB and hard currency, the SRF supports projects only with foreign currency.
Hvis denne betingelse ikke opfyldes, indledes der en auktion for at sælge Cinda-aktierne og dermed bringe bevillingen af midler til ophør.
As stated by the chairman of the SRF: ‘The Silk Road Fund is an outbound investment fund investing mainly in foreign exchange’.
I hovedaftalen mellem CNRC og Aeolus fastsættes det, at formålet med denne kapitaltilførsel er at »etablere en stor international virksomhed med fokus på industridæksegmentet, der er baseret i Kina og børsnoteret i Kina, og som har et globalt fodaftryk«.
Consequently, a company which sells only on the Chinese market and does not export or does not have any proven business plan to increase its exports would not be eligible to be supported by the SRF.
Dette blev som sådan også meddelt offentligt af Aeolus til fondsbørsen i Shanghai.
Second the Commission analysed the concrete circumstances existing at the time when the granting authorities were providing the subsidies in order to establish that also this specific support was tied to the skewing of CNRC's anticipated sales towards exports (compared to its domestic sales).
Det følger heraf, at den subsidieydende myndighed opstillede en retlig betingelse med hensyn til, hvordan CNRC bør omstrukturere, og dermed fordrejede den i retning af bedre eksportresultater.
It found a number of indicators confirming the conclusion that this was indeed the case:
Endelig antydede Kommissionen ikke bare baseret på virkningerne af subsidiet, at der havde været en betingelse på tidspunktet for bevillingen heraf, som CNRC havde påstået.
In all five interventions referred to as ‘the measure’, the granting authority specified that the funds were provided to acquire the Pirelli Group.
Den havde i stedet analyseret de faktiske forhold omkring transaktionen set ud fra en forhåndsbetragtning.
In the case of the intervention of Cinda, the granting authority specified even further the conditions for granting the funds.
Ved accepten af subsidieforanstaltningen godkendte modtageren fuldt ud de retlige forpligtelser, der er knyttet hertil.
Indeed, as mentioned in relation to Cinda's intervention, the quotaholders' agreement notes that Cinda acknowledges that its equity participation in Pirelli Industrial is contingent to a plan to inject all of its stake into the Chinese exporting producer Aeolus before a certain deadline.
I obligationsprospektet for mellemfristede obligationer, som blev udstedt kort efter overtagelsen, havde ChemChina (CNRC's modervirksomhed) formuleret sit løfte om at gennemføre de betingelser, der var knyttet til subsidierne, på følgende måde: »Virksomheden har siden sin etablering til fulde reageret på centralregeringens strategi om »udadvendte politikker« med henblik på at udnytte internationale ressourcer fuldt ud.
The SRF, as a co-investor, was fully aware of the market position of CNRC and anticipated the benefits on export performance which the transaction would bring.
For at opbygge en internationalt konkurrencepræget virksomhedsgruppe inden for de senere år har den gennemført en række internationale fusions- og overtagelsesprojekter og oprettet en internationalt konkurrencedygtig virksomhedsgruppe.« Her nævnes købet af Pirelli som et af de vigtigste resultater i den forbindelse, hvilket fremhæver virksomhedens globale markedsføringsnet og salgskanaler.
The Chairman of the Silk Road Fund acknowledged this as follows: ‘The Fund supported Chemchina in its acquisition of Pirelli, which has not only helped Chemchina to successfully introduce from overseas advanced technologies and management knowhow for high-end manufacturing, but also to effectively obtain an access to international markets.’
Som følge af dette løfte forvrængede CNRC forholdet af sit eksportsalg til Unionen over for det samlede salg fra 9 % (i 2015) til 12 % (i undersøgelsesperioden) sammenlignet med salget på hjemmemarkedet, som kun steg med 10 %.
For CNRC, the main benefits from the acquisition of Pirelli were not linked to the domestic market.
Uden den omhandlede støtte ville CNRC fortsat have været markedsførende i salget af dæk i segment 3 i Kina som led i et øget indenlandsk forbrug.
At the time of the acquisition, CNRC was already a major player for truck tires on the Chinese domestic market, whereas Pirelli only had a very small market share on the same market (less than 1 %).
Kommissionen fastholdt derfor sin holdning om, at foranstaltningens udformning og struktur, betingelserne for dens virkemåde og de faktiske omstændigheder tilsammen underbygger dens konklusioner om, at subsidiet (dvs. de fem interventioner fra offentlige organer med henblik på købet af Pirelli) i realiteten var betinget af modtagerens eksportresultater.
In addition, the Pirelli Group is a global player, for whom the Chinese market represented less than 10 % of the total sales of all products.
(kk) Beregning af subsidiebeløbet
Also, export sales already represented around 60 % of total sales, both for CNRC and Pirelli Tyre Co. Ltd
Fordelen ved præferencelånet fra CDB, EXIM og CCB blev beregnet i henhold til beregningsmetoden i afsnit 3.4.4.
Furthermore, among others in the Implementation Plan for Transforming and Upgrading the Tire Industry of Shandong Province, corroborated by the sampling replies of the cooperating exporting producers, the Chinese domestic market is a market dominated by sales in the Tier 3 category, whereas Tier 1 tires are much more represented on the EU and US markets.
Den var imidlertid ikke medtaget i de subsidiebeløb, der blev beregnet for præferencelån i henhold til afsnit 3.4, men blev lagt til det subsidiebeløb, der er fastsat i betragtning 421.
Thus, adding a tier 1 player with a globally recognized brand such as Pirelli in its product portfolio did not add any immediate value for CNRC on the domestic sales market, but significantly enhanced its competitiveness on the export market, since it could now export the full range of products on top of its usual tier 3 product range.
Fordelen ved tilskuddene og egenkapitalinvesteringerne blev beregnet som det beløb, der var allokeret til undersøgelsesperioden på grundlag af en amortisering af investeringen over en syvårig periode, da dette var løbetiden for det langfristede lån, som CNRC havde optaget til at finansiere investeringen, og også svarer til den gennemsnitlige investeringshorisont på syv til ti år, som SRF havde meddelt på sit websted.
In addition, the Chinese market is already characterized by a certain overcapacity, and CNRC itself had a significant amount of idle capacity.
Efter fremlæggelsen af oplysningsdokumentet anfægtede CNRC og Pirelli beløbet i forbindelse med den fordel, som Kommissionen havde beregnet, og fremlagde yderligere dokumentation for, at SRF's egenkapitalinvestering var blevet ukorrekt vurderet af Kommissionen.
According to the market analysis report conducted on behalf of CNRC prior to the investment, and on which the investment decision was based, the CNRC brand was thus ‘looking for opportunities to escape from the current ‘Red Ocean’ competition and pursued further outbound expansion to give full play of its strength’.
På grundlag af de oplysninger, som CNRC indgav, var Kommissionen enig i, at SRF's faktiske egenkapitalinvestering var lavere end oprindeligt antaget.
The report further stated that the main benefits for CNRC would be to enhance its international business by leveraging Pirelli's global sales network.
Beregningerne blev tilpasset i overensstemmelse hermed.
In this respect, the Commission noted that before the acquisition, CNRC did not have its own direct sales channels in the EU, but was selling via independent dealers.
CNRC anmodede også Kommissionen om at anvende den konsoliderede omsætning i stedet for CNRC's eksportomsætning som en fællesnævner ved beregningen af fordelen.
This is also illustrated by an interview with Pirelli's global operations manager after the acquisition, who stated that thanks to the acquisition, the new group could now enter Australia with tyres in different price segments, and that the company intended to increase its exports, thus increasing its market share in Australia from 1 % to 10 % by selling tyres across the whole commercial tyre market.
Da Kommissionen imidlertid fastholdt sin holdning vedrørende den eksportbetingede karakter af subsidiet, blev denne anmodning afvist.
The pre-investment report also highlighted that CNRC could leverage Pirelli's R & D resources to enhance its own product lines, to better meet international market demand.
Det subsidiebeløb, der blev fastsat i forbindelse med denne ordning i undersøgelsesperioden, er på 18,99 % for China National Tire-gruppen.
After the acquisition, a license was indeed granted to one of the Chinese exporting producers within the group to use the Pirelli knowhow in its production process.
Efter den endelige fremlæggelse af oplysninger meddelte den kinesiske regering, at der ikke er noget i sagsakterne, som tyder på, at andre kinesiske eksportører har draget fordel af disse ordninger, eller at de har været aktive i anskaffelsen af udenlandske dækproducenter.
In light of the above evidence about the profile of Pirelli known at the time of the grant and about the significant advantages that the acquisition would bring to the export performance of CNCR, the Commission concluded that the granting authority anticipated and was promised by CNRC in return for obtaining the subsidy that CNRC's exports sales would increase (compared to its domestic sales).
Kommissionen afviste derfor denne påstand.
More specifically, truck tyre export sales had increased by 55 % towards Europe, by 5 % towards other markets and by 14 % overall during the investigation period.
Præferentiel finansiering og forsikring: eksportkreditforsikring
In addition, the group was now using a direct sales network in all major EU markets, whereas previously they could only sell indirectly via independent dealers.
Klageren påstod, at Sinosure ydede eksportkreditforsikring på præferencevilkår til producenterne af den pågældende vare.
Finally, the product range of the tyres sold on the EU market was extended from Tier 3 tyres to Tier 1 as well as Tier 3 tyres.
Notice on the Implementation of the Strategy of Promoting Trade through Science and Technology by Utilising Export Credit Insurance (Shang Ji Fa [2004] No. 368), udstedt i fællesskab af MOFCOM og Sinosure.
Therefore, the Commission concluded that the CNRC actually fulfilled the conditions tied to the granting of the subsidy, i.e. CNRC's promise to increase its sales towards exports (as compared to domestic sales).
Notice on Issuing the 2006 Export Catalogue of High-Tech Products of China, Guo Ke Fa Ji Zi [2006] No. 16.
Consequently, the granting of the subsidy to CNRC to purchase Pirelli was geared to induce the promotion of promised future export (compared to domestic) performance by the recipient CNCR.
Tre ud af fire grupper af virksomheder, der indgik i stikprøven, havde udestående eksportforsikringsaftaler med Sinosure i løbet af undersøgelsesperioden.
The Commission thus maintained that the subsidies provided under this measure are contingent upon export performance within the meaning of Article 4(4)(a) of the basic Regulation.
Under kontrolbesøget hos den kinesiske regering bekræftede Sinosure, at den er 100 % statsejet, og at den er i besiddelse af ca. 90 % af det indenlandske marked for eksportkreditforsikring.
After final disclosure the CNRC, Pirelli and the GOC contested the export contingent nature of the measure.
Som nævnt i betragtning 142-148 forelagde Sinosure imidlertid ikke den fornødne dokumentation for sin virksomhedsledelse, såsom årsberetningen eller vedtægterne.
They argued that the granting authority had not tied the granting of the subsidy to an improved export performance of CNRC.
Derudover gav Sinosure heller ikke yderligere specifikke oplysninger om eksportkreditforsikring til dækindustrien, præmiestørrelsen eller detaljerede tal vedrørende eksportkreditforsikringsvirksomhedens rentabilitet.
CNRC submitted that the Guiding Opinions do not exclude Chinese companies only operating on the domestic market from access to enhanced investment cooperation under the BR initiative.
Derfor var Kommissionen nødt til at supplere de oplysninger, der blev givet, ved hjælp af foreliggende faktiske oplysninger.
Moreover, there was no contingency on export, but on value creation that happened to arise from the outward investment.
Den har en bestyrelse og et tilsynsråd.
It added that government measures or subsidies which assist foreign investment transactions, such as acquisition of shares in third-country enterprises, do not figure in Annex I to the SCM Agreement and can therefore not be qualified as export subsidies.
Den kinesiske regering har beføjelse til at udnævne og afskedige virksomhedens øverste ledelse.
The Commission noted that Annex I to the SCM contains an ‘Illustrative List’ of measures that can qualify as export subsidies.
Kommissionen indhentede yderligere oplysninger om, hvorvidt den kinesiske regering har udøvet betydelig kontrol med ledelsen af Sinosure i forbindelse med dækindustrien.
Moreover, Article 3.1 (a) of the SCM Agreement refers to export subsidies, ‘including those illustrated in Annex I’.
På det grundlag noterede Kommissionen, at Kinas Export Catalogue of High-Tech Products udtrykkeligt anfører »et nyt pneumatisk radialdæk af den art, der anvendes til busser og lastbiler (af gummi, tværsnit af bredde ≥ 24 tommer)«, som varer, for hvilke der tilskyndes til eksport.
It follows that non-listed measures can qualify as export contingent when they meet the conditions laid down in that provision.
Ifølge Notice on the Implementation of the Strategy of Promoting Trade through Science and Technology by Utilising Export Credit Insurance bør Sinosure desuden øge sin støtte til nøgleindustrier og varer på grundlag af en styrkelse af den generelle støtte til eksport af højteknologiske varer.
In line with the guidance of the Appellate Body in the Airbus case, the Commission analysed whether the granting authority provided the subsidy on condition that the recipient would increase exports (as compared to its domestic sales).
Virksomheden bør behandle varer, der er opført på Kinas Export Catalogue of High-Tech Products, som f.eks. de radialdæk, der er nævnt i betragtning 429, som sit forretningsmæssigt prioriterede område og yde omfattende støtte i form af procedurer vedrørende tegning, begrænsede godkendelser, behandlingshastighed for anmodninger og prisfleksibilitet.
In that respect, the Commission took into account the (i) design and structure of the measure; (ii) the modalities of operation set out in such measure; and (iii) the relevant factual circumstances surrounding the granting of the subsidy that provide the context for understanding the measure's design, structure, and modalities of operation.
Med hensyn til prisfleksibilitet bør den give varer, der er opført i kataloget, den maksimale præmienedsættelse inden for det variable interval, der oplyses af kreditforsikringsselskabet.
With respect to the design and structure of the measure, the Commission recalled that companies with only domestic activities are not eligible for funding under this programme.
På dette grundlag konkluderede Kommissionen, at den kinesiske regering har skabt normative rammer, der skal følges af ledere og tilsynsførende, som er udpeget af den kinesiske regering og er ansvarlige over for den kinesiske regering.
The fact that the Guiding Opinions do not formally exclude Chinese companies only operating on the domestic market from SRF funding, could only be relevant for a de jure contingency analysis.
Derfor støttede den kinesiske regering sig til de normative rammer for at udøve betydelig kontrol med ledelsen af Sinosure.
However, at stake is a de facto contingency.
Kommissionen søgte også at få konkrete beviser for udøvelsen af betydelig kontrol gennem forsikringsaftaler.
Indeed, since its creation in December 2014, the Silk Road Fund only supports foreign projects and companies which are exporting.
Under kontrolbesøget fastholdt Sinosure, at dens præmier i praksis var markedsorienterede og baseret på principperne om risikovurdering.
They receive financial injections contingent upon skewing their current export performance towards more export sales (as opposed to domestic sales).
Der blev dog ikke fremlagt specifikke eksempler vedrørende dækindustrien eller virksomhederne i stikprøven.
The companies accepting the financing are thus made aware that the support is granted under the condition to skew anticipated sales towards exports.
Da der ikke forelå konkrete beviser, undersøgte Kommissionen derfor Sinosures konkrete adfærd i forbindelse med forsikringer til virksomhederne i stikprøven.
This legal tie is a constant feature in all projects of the Silk Road Funds.
Denne adfærd stod i modsætning til deres officielle holdning, da de ikke handlede ud fra markedsøkonomiske principper.
A review of the latest operations confirms that recipients were active on export markets and the financial support received under the Silk Road Fund was conditioned upon improving their export performance (as compared to domestic sales).
I den forbindelse bemærkede Kommissionen, at Sinosures årsberetning for 2014 fastslår, at de anmodninger, der er blevet betalt til nøgleindustrier som led i kortfristede eksportkreditforsikringsaftaler, nåede op på 590 mio. USD i 2014, hvilket svarede til 72,3 % af de samlede anmodninger.
For example, the SRF's investment in the construction of the world's largest solar power plant in Dubai allowed the Chinese SOE Shanghai Electric Group to sign a 700 MW EPC (Engineering, Procurement, Construction) contract in 2018 to build the power plant and to supply the power equipment.
Efter en sammenligning af de samlede anmodninger, der var blevet betalt, med de samlede forsikrede beløb, konkluderede Kommissionen, at Sinosure i gennemsnit skulle opkræve 0,23 % af det forsikrede beløb som en præmie til dækning af omkostningerne ved anmodningerne (uden at tage hensyn til generalomkostninger).
According to the press release for the signature of this contract, ‘This project is a flagship project in supporting the three major Chinese power equipment suppliers, namely Shanghai Electric, Dongfang Electric and Harbin Electric, to ‘go abroad’ and break through the sophisticated and established power market’.
I praksis var de præmier, der blev betalt af virksomhederne i stikprøven, imidlertid meget lavere end det minimumsgebyr, der var nødvendigt for at dække driftsomkostningerne.
The chairman of the Shanghai Electric Group also declared that thanks to the Dubai project, the company aims ‘to build Shanghai Electric into a renowned Chinese brand all over the world’, and added that ‘the CSP project in Dubai showed huge progress in the group's business operation and equipment manufacturing against the bigger backdrop of China's Belt & Road initiative’.
Desuden konstaterede Kommissionen, at en række af de eksporterende producenter drog fordel af en delvis eller fuldstændig godtgørelse af de eksportkreditforsikringspræmier, der var betalt til Sinosure.
A similar setup occurred for the first project in which the SRF invested in 2015, the Karot hydropower project in Pakistan, where the construction and supply of the equipment for the hydropower plant was entrusted to the Chinese SOE China Three Gorges Corporation (‘CTG’).
Kommissionen konstaterede derfor, at ovenfor beskrevne retlige ramme implementeres af Sinosure i forbindelse med udøvelsen af statslige funktioner med hensyn til dækindustrien, og at den dermed optræder som offentligt organ, jf. grundforordningens artikel 2, litra b), sammenholdt med grundforordningens artikel 3, stk. 1, litra a), nr. i), og i overensstemmelse med WTO's relevante retspraksis.
The project also was clearly linked by the company to the Belt & Road initiative and to export performance as follows: ‘Under the ‘One Belt, One Road’ initiative, CTG is determined to expand its new energy business globally having formed four international business lines i.e. investment, construction, operation and consultancy’.
Desuden fik de eksporterende producenter i stikprøven en fordel, da forsikringen blev ydet til satser under det minimumsbeløb, der var nødvendigt for, at Sinosure kunne dække sine driftsomkostninger.
In the present case, the granting authority clearly stipulated in the grant notices, in the loan agreement, as well as in the investment agreement between the SRF and CNRC, that funds were received conditional upon the acquisition of Pirelli.
Kommissionen fastslog også, at de subsidier, der blev ydet under eksportforsikringsprogrammet, er specifikke, fordi de ikke kunne opnås uden eksport og de er således eksportbetingede jf. grundforordningens artikel 4, stk. 4, litra a).
With the adding of the top tier Italian brand Pirelli to CNRC's profile, the SRF not only leveraged the industrial investor to create value, as stated by CNRC in its comments upon final disclosure.
Da Sinosure tegner sig for ca. 90 % af hjemmemarkedet for eksportkreditforsikring i Kina, kunne Kommissionen ikke finde en markedsbaseret indenlandsk forsikringspræmie.
The granting authority also ensured stronger export sales of CNRC in particular towards Europe.
I overensstemmelse med tidligere antisubsidieundersøgelser anvendte Kommissionen derfor det mest hensigtsmæssige eksterne benchmark, for hvilket der forelå let tilgængelige oplysninger, dvs. de præmiesatser, som Export-Import Bank (»Ex-Im Bank«) i USA har anvendt på ikke-finansielle institutioner for eksport til OECD-lande.
Thus, not only an anticipated increase in CNRNC's export sales in particular towards Europe was envisaged, but also the circumstances of the present case and the available evidence demonstrate that CNRC promised to skew its sales towards export sales (compared to domestic sales) vis à vis the granting authority when obtaining the subsidy.
Godtgørelsen af eksportforsikringspræmier, der blev ydet i undersøgelsesperioden, blev behandlet som et tilskud.
Looking at the modalities of operations set out in the measure, the Commission observed that the SRF only operates with foreign exchange funds (i.e. USD and EUR).
Da der ikke forelå dokumentation for yderligere omkostninger for de virksomheder, for hvilke der var behov for en justering, blev fordelen beregnet som det samlede godtgørelsesbeløb, der var modtaget i undersøgelsesperioden.
In view of restrictions on the use of foreign exchange funds within China, it was thus clear when providing the funds that the granting authority was restricting the company to use these funds to develop and improve its export-related business (i.e. as opposed to simply acquiring domestic companies and/or focusing on domestic sales).
Det subsidiebeløb, der blev fastsat for denne ordning i undersøgelsesperioden for de eksporterende producenter i stikprøven, er på:
This modality is also a constant feature in other projects funded by the Silk Funds, which involved investments in foreign currency in countries such as Dubai, Russia, Pakistan or Germany.
Subsidiesats
As to the factual circumstances surrounding the granting of the subsidy, the Commission also looked at the details Pirelli's integration into the CNRC's structure.