natgillin/translations-raw huggingface dataset:
As far as Article 17 of such Decision is concerned and the fact that credit principles should be respected, the Commission does not consider such condition as incompatible with the fact that banks exercise government authority.
Mis puudutab selle aruande esitamist, siis see täiendab juba kogutud tõendeid ning kinnitab valitsuse eripoliitika olemasolu fotoelektrisektori toetuseks.
As far as the claim that Decision 40 covers the whole Chinese economy, the Commission notes that this Decision refers to the Guiding Catalogue of the Industrial Restructuring which itself makes a distinction between three types of industries; i.e. encouraged, limited and eliminated projects.
Hiina valitsus viitas ka märkustele, mille ta oli esitanud seoses esialgse määruse põhjendusega 172 ning mida esialgses määruses juba käsitleti.
Furthermore, the ‘encouragement content’ is also defined in this Decision.
Peale selle osutas Hiina valitsus sellele, et tuginedes apellatsioonikogu aruandele „Ameerika Ühendriigid – õhusõidukid“ (teine kaebus), peaks konkreetsuse analüüs keskenduma mitte üksnes „kaebuses kindlakstehtud asjaomastele subsiidiumi saajatele, vaid […] ka kõikidele ettevõtetele või tootmisharudele, millel on õigus sama subsiidiumi saada“, [39] ning et vaekogu aruande „Ameerika Ühendriigid – õhusõidukid“ [40] kohaselt tuleb selleks, et subsiidium oleks konkreetne, seda anda ettevõtete või tootmisharude piisavalt väikesele rühmale ning selleks on vaja rohkem kui vaid tõendada, et mitte kõik ettevõtted või tootmisharud võisid subsiidiumi saada.
As far as the reference to the ‘11th Five-Year plan’ is concerned, it is noted that such plan has been replaced by the 12th and more recently by the 13th Five-Year plans.
Seoses sellega märgitakse, et esialgse uurimise käigus Hiina valitsuse esitatud märkusi analüüsiti ja käsitleti esialgses määruses ning esialgse uurimise käigus tehtud järeldusi ei ole liidu kohtutes vaidlustatud.
It is also noted that Decision 40 has not been repealed and is therefore still valid.
Mis puutub viidetesse apellatsioonikogu ja vaekogu aruannetele, siis viidatakse dokumentidele, mis olid loetletud esialgse määruse põhjenduses 172, ning eespool nimetatud dokumentidele.
Nothing in Chinese law indicates that reading the reference to the 11th Five-Year plan as dynamic reference would be inappropriate.
Seoses sellega leiab komisjon, et viited fotoelektrisektorile on piisavalt selged, sest tööstusharu on identifitseeritud kas nime järgi või selge viitega tootele, mida ta toodab, või tööstusharu rühmale, kuhu ta kuulub.
Furthermore, the following observations can be made.
Toimikus olevatele tõenditele tuginedes leitakse, et subsiidiumid sooduslaenudena ei ole üldiselt kõigile kättesaadavad ning on seega alusmääruse artikli 4 lõike 2 punkti a tähenduses konkreetsed.
The original investigation [35] had concluded that the Chinese financial market was distorted in various ways; i.e. State-ownership combined with the distortions of the Chinese financial market and with the GOC's policy to direct cheap money towards selected industries (thus undermining the level playing field in international trade and providing unfair advantage to Chinese producers), limitations with regard to interest rate setting, access to cheap capital, lending policy according to the needs of the national economy, preferential access to credit for encouraged projects and/or high and new technology industries, access to cheap foreign exchange State reserves and privileged financing means for the China Development Bank (CDB).
Samuti ei esitanud ükski huvitatud isik tõendeid, mis kinnitaksid, et subsiidiumi võimaldamisel lähtutakse objektiivsetest kriteeriumidest või tingimustest alusmääruse artikli 4 lõike 2 punkti b tähenduses.
Except for the alleged interest rate reform that has been addressed in (197) to (201), the GOC did not provide any evidence in the course of this investigation that the situation has changed.
Uurimise järelduste kokkuvõte
The investigation did not either bring to light any element contradicting the above findings.
Leiti, et valimisse kaasatud eksportivate tootjate kontsernidele antud laenudest valdava enamiku annavad riigiosalusega pangad, mis on vastavalt põhjendusele 201 avaliku sektori asutused, sest neile on antud ja nad täidavad valitsusasutuste ülesandeid.
The conclusions drawn in the original investigation remain valid also in the RIP and are therefore confirmed.
Lisaks on tõendeid selle kohta, et need pangad teostavad tegelikult valitsusasutuse volitusi, sest – nagu põhjendustes 197–201 selgitatud – viisist, kuidas kommertspangad teevad otsuseid Hiina äriühingutele antavate laenude intressimäärade kohta, nähtub selgelt, et tegemist on riigi (st Hiina rahvapanga) sekkumisega.
These conclusions make it clear that the financial sector is encouraged to contribute to the strategies designed by the Government authorities.
Neid asjaolusid arvesse võttes alluvad kõnealused üksused oma laenutegevuses otseselt valitsuse korraldustele.
As far as the interference of the GOC to influence rates is concerned, this issue has already been dealt with in recitals 197, 198, 206 and 207.
Hiina valitsus ei esitanud/keeldus ka esitamast teavet, mis oleks võimaldanud paremini mõista riigiosalusega pankade suhteid valitsusega, nagu on selgitatud põhjendustes 51, 103 ja 104.
As far the findings established in the original investigation are concerned, it is noted that the comments raised by the GOC in the original investigation were analysed and addressed in the original Regulation and that the conclusions drawn in the original investigation in this respect were not challenged in court.
Seega on HRVs riigiosalusega pankade väljastatud laenude puhul komisjoni arvates endiselt tegemist fotoelektriseadmete tootjatele antud rahalise toetusega valitsuse rahaliste vahendite otsese ülekandmise teel alusmääruse artikli 3 lõike 1 punkti a alapunkti i tähenduses.
Furthermore, the GOC did not submit any evidence that could overturn the conclusion reached in the original investigation, neither did the investigation bring to light any elements of such nature.
Tuginedes valimisse kaasatud eksportivatelt tootjatelt saadud laenu- ja krediidiliiniteabele ning neljalt pangalt saadud vähesele teabele, leidis komisjon kättesaadavate faktide alusel, et tegelikkuses kasutavad riigiosalusega pangad valitsusasutuse volitusi ning nende laenutegevus on kooskõlas riigi majandus- ja sotsiaalarengu vajadustega ning toimub riigi tööstuspoliitika suuniste kohaselt, nagu on sätestatud pangandusseaduse artiklis 34.
In this context, the Commission fails to see on which grounds such findings cannot form part of the basis on which the Commission relied to draw its conclusions in the current investigation.
Ulatuses, milles valitsus või valitsuse volituste ja juhiste kohaselt tegutsevad erasektori pangad annavad laenu soodsamatel tingimustel, kui laenusaaja võiks turul tegelikult saada, on tegemist kasuga alusmääruse artikli 3 lõike 2 ja artikli 6 punkti b tähenduses.
In addition, and as found in the original investigation [36], even if the State-owned banks were not considered to be public bodies, they would also be considered as entrusted and directed by the GOC to carry out functions normally vested in the government, within the meaning of Article 3 (1)(a)(iv) of the basic Regulation.
Hiinas valitsusele mittekuuluvate finantseerimisasutuste antud laenud ei sobi võrdlusaluseks, sest on kindlaks tehtud, et Hiina finantsturgu on moonutatud, vt põhjendused 225 ja 226.
Private banks
Seetõttu on võrdlusalus tuletatud põhjendustes 246–248 kirjeldatud meetodil.
Since the share of loans provided by private banks in the PRC to the three sampled exporting producers was insignificant and none of the private banks in the PRC submitted a questionnaire reply, no additional findings were made in this respect.
See võrdlusalus näitab, et fotoelektrisektorile antakse laenu turutingimustest soodsamatel tingimustel.
Accordingly, the Commission decided to eliminate the marginal benefit arising from these loans from the subsidy calculation.
Nagu tehti kindlaks esialgse määruse põhjenduses 191, kuulub fotoelektrisektor vastavalt otsusele nr 40 soodustatud kategooriasse.
Therefore, the Commission did not have to address the GOC comments in this regard.
Otsust nr 40 ei ole pärast seda muudetud ja selles on sätestatud kõigi majandusinstitutsioonide suhtes siduvad eeskirjad, mis on esitatud juhistena, kuidas edendada ja toetada soodustatud tootmisharusid (sh fotoelektrisektorit).
Specificity
Nagu esialgse määruse põhjenduses 172 selgitatud, suunab Hiina valitsus sooduslaenud piiratud arvule tootmisharudele, millest üks on fotoelektrisektor.
In the current investigation, nothing on the file can change the findings of the Commission in the original investigation [37], in which it was concluded that the GOC directs preferential lending to a limited number of industries, considered key industries, and the PV industry is one of them.
Eespool kirjeldatut arvesse võttes võib jõuda sama järelduseni, st et ametiasutused lubavad finantseerimisasutustel anda sooduslaene vaid piiratud arvule sektoritele/äriühingutele, mis järgivad Hiina valitsuse poliitikat.
On the contrary, the investigation brought additional elements confirming the original finding.
Tuginedes toimikus olevatele tõenditele ja võttes arvesse asjaolu, et Hiina valitsus ei teinud selles küsimuses koostööd, leitakse, et subsiidiumid sooduslaenudena ei ole üldiselt kõigile kättesaadavad ning on seega alusmääruse artikli 4 lõike 2 punkti a tähenduses konkreetsed.
One sampled exporting producer indicated that ‘Historically, China Development Bank has provided us with loans for our solar power project financing.
Samuti ei esitanud ükski huvitatud isik tõendeid, mis kinnitaksid, et subsideerimisel lähtutakse objektiivsetest kriteeriumidest või tingimustest vastavalt alusmääruse artikli 4 lõike 2 punktile b.
As these loans are driven, in part, by policy considerations, to the extent that the government changes their position on the solar industry, the terms and availability of these loans may change’ and that ‘The PRC government also exercises significant control over China's economic growth through allocating resources, controlling payment of foreign currency-denominated obligations, setting monetary policy and providing preferential treatment to particular industries or companies’ [38].
Järeldus
Additionally, a credit approval report also assessed positively the fact that the photovoltaic sector benefits government support and is promoted by national policy.
Uurimine näitas, et kõik valimisse kaasatud eksportivad tootjad said läbivaatamisega seotud uurimisperioodil sooduslaene.
On the basis of the above, it is concluded that the authorities only allow the financial institutions to provide preferential lending to a limited number of industries/companies which comply with the relevant policies of the GOC.
Seega tuleks fotoelektrisektori rahastamist käsitada subsideerimisena.
Furthermore, no interested parties could provide supporting evidence that banks were assessing the creditworthiness of the PV industry adequately.
Seda subsiidiumi tuleks käsitada tasakaalustatavana, sest esinevad nii rahaline toetus, eksportivate tootjate kasu kui ka konkreetsus.
Following disclosure, the GOC referred to the fact that the PV industry is allegedly not listed in the 13th Five-Year plan referred to in recital 83 and that the Commission has allegedly erroneously interpreted Decision 40.
Subsiidiumisumma arvutamine
Furthermore, it indicated that the SEC filing of one Chinese producer cannot provide evidence of government policy.
Esialgse uurimise ajal kohaldatud meetodi kohaselt lähtuti tasakaalustatava subsiidiumi summa arvutamisel kasust, mida subsiidiumi saaja sai läbivaatamisega seotud uurimisperioodil.
It is first noted that the claims concerning the 13th Five-Year plan and Decision 40 have been addressed in recitals 87 and 89.
Alusmääruse artikli 6 punkti b kohaselt on saaja saadud kasu järgmise kahe summa vahe: intressisumma, mille laenu saav äriühing maksab valitsuslaenu eest, ning summa, mis tal tuleks maksta võrreldava kommertslaenu eest, mida ta võiks turul reaalselt saada.
As far as the SEC filing is concerned, it adds to the evidence already gathered and confirms the existence of a specific government policy in support of the PV industry.
Nagu selgitatud põhjendustes 236–241, märgitakse, et Hiina pankade antavate laenude puhul on tegemist valitsuse olulise sekkumisega pangandussektorisse ja need laenud ei kajasta intressimäärasid, mis oleksid omased toimivale turuolukorrale, ning seetõttu kasutati asjakohase turuindeksi arvutamiseks allpool kirjeldatud meetodit.
The GOC also referred to the comments that it had raised with regard to recital 172 of the original regulation and that were already addressed in the original regulation.
Hiina valitsuse soovimatuse tõttu koostööd teha toetus komisjon intressimäära sobiva võrdlusaluse kindlakstegemisel ka kättesaadavatele faktidele.
Furthermore it indicated that, based on the AB report in US-Aircraft (Second Complaint), the specificity analysis should focus not only on ‘the particular recipients identified in the complaint, but … also on all enterprises or industries eligible to receive that same subsidy’ [39] and that, according to the Panel report in US — Aircraft [40], in order to be specific, a subsidy must be provided to a sufficiently limited ‘group’ of enterprises or industries and this requires more than a simple demonstration that less than all of the enterprises or industries were eligible to receive the subsidy.
Nii nagu esialgses uurimises, peetakse renminbides (RMB) (tagapool „jüaan“) vääringustatud laenudele sobiva võrdlusaluse tuletamisel asjakohaseks kasutada Hiina intressimäärasid, mida on tavapärase tururiski arvesse võtmiseks kohandatud.
In this regard, it is noted that the comments raised by the GOC in the original investigation were analysed and addressed in the original Regulation and that the conclusions drawn in the original investigation in this respect were not challenged in the Union Courts.
Olukorras, kus eksportijate finantsolukord on kindlaks määratud moonutatud turutingimustes ning Hiina pangad ei ole esitanud usaldusväärset teavet ei riskide mõõtmise ega krediidireitingute määramise kohta, otsustati, et Hiina eksportijate krediidikvaliteedi hindamisel ei saa võtta aluseks nimiväärtust, vaid tuleb kohaldada kasumimarginaali, et võtta arvesse Hiina moonutatud turutingimuste võimalikku mõju finantsolukorrale.
As far as the references to the AB and Panel reports are concerned, reference is made to the documents that were listed in recital 172 of the original Regulation and to the documents mentioned above.
Kasutatavad võrdlusalused [41] on järgmised.
In this regard, the Commission considers that references to the PV industry are sufficiently clear as the industry is identified either by its name or by a clear reference to the product that it manufactures or the industry group that it belongs to.
Ajavahemik
On the basis of the evidence on the file, it is concluded that the subsidies in the form of preferential lending are not generally available and are therefore specific in the meaning of Article 4(2)(a) of the basic Regulation.
Renminbi võrdlusalus (%)
Moreover there was no evidence submitted by any of the interested parties suggesting that the subsidy is based on objective criteria or conditions under Article 4(2)(b) of the basic Regulation.
kuni 1 aasta
Conclusion on the findings of the investigation
1–5 aastat
It is concluded that the vast majority of loans to the sampled groups of exporting producers are provided by State-owned banks which have been found to be public bodies in recital 201 above, because they are vested with government authority and exercise government functions.
üle 5 aasta
There is further evidence that these banks effectively exercise government authority since, as it is explained in recitals 197 to 201 there is a clear intervention by the State (i.e. the PBOC) in the way commercial banks take decisions on interest rates for loans granted to Chinese companies.
Mis puutub välisvaluutas nomineeritud laenudesse, siis kohaldatakse samasugust olukorda nagu turumoonutuste ja nõuetekohaste krediidihinnangute puudumise puhul, sest ka need laenud on andnud Hiina pangad.
In these circumstances, the lending practices of these entities are directly attributable to the government.
Seepärast kasutati – nagu esialgses uurimiseski –läbivaatamisega seotud uurimisperioodil emiteeritud asjakohaselt vääringustatud BB reitinguga ettevõtete võlakirju, et määrata kindlaks järgmised võrdlusalused [42]:
Finally, the GOC failed/refused to provide information which would have enabled a greater understanding of the State-owned banks' relationship with government as explained in recitals 51, 103 and 104.
Valuuta
Thus, for loans provided by State-owned banks in the PRC, the Commission concludes that there is still a financial contribution to the PV producers in the form of a direct transfer of funds from the government within the meaning of Article 3(1)(a)(i) of the basic Regulation.
Võrdlusalus (%)
Based on the loan and credit line information obtained from the sampled exporting producers and the limited information obtained from the four banks, the Commission, based on facts available, found that in reality and in practice, State-owned banks exercise government authority and those banks carry out their business of lending in accordance with the needs of the national economic and social development and under the guidance of the industrial policies of the State, as stipulated in Article 34 of the Bank law.
Pärast järelduste teatavaks tegemist esitas Hiina valitsus vastuväite hinnalisandi lisamisele remnibides laenude võrdlusaluse kindlaksmääramisel, tuginedes sellele, et komisjonil puudus faktiline alus käsitada valimisse kaasatud äriühinguid BB-reitinguga äriühingutena nende tulemuslikkuse ja kasumlikkuse andmeid arvestades, ning väitis, et see olukord kehtib kogu sektori puhul.
A benefit within the meaning of Articles 3(2) and 6(b) of the basic Regulation exists to the extent that the 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.
Ta esitas vastuväite ka eurodes ja USA dollarites nomineeritud laenude võrdlusaluse kehtestamisele põhjendusel, et Hiina rahvapank ei kehtestanud laenuintresside alammäära nendes vääringutes laenude puhul ning pangad võivad neid laene mis tahes intressimääraga anda.
Non-government loans in the PRC do not provide an appropriate market benchmark, since it has been established that the Chinese financial market is distorted (see recitals 225 and 226).
Ta viitas ka ühele koostööd tegevale tootjale, kelle arvutatud võrdlusalus oli allpool intressimäära, millega kõik laenud anti.
Therefore, benchmarks have been constructed using the method described in recitals 246 to 248 below.
Mis puutub hinnalisandisse ja kasutatud krediidireitingusse, siis ei saanud komisjon ühtegi suunist pankadelt selle kohta, mida ta kasutab äriühingute krediidireitingu määramiseks.
This benchmark demonstrates that loans are granted to the PV sector at below-market terms and conditions.
Peale selle ei olnud mõned äriühingute enda esitatud dokumendid nende krediidikvaliteedi hindamisel usaldusväärsed.
As established in recital 191 of the original Regulation, the PV industry belongs to the encouraged category according to Decision 40.
Täpsemalt esitas üks äriühing krediidireitingu, mis on seotud ühega tema paljudest äriühingutest, mis fotoelektrisektoris ei tegutse.
Decision 40 has not been amended since then and it provides binding rules to all the economic institutions in the form of directives on the promotion and support of encouraged industries, one of which is the PV industry.
Veel üks äriühing esitas dokumendi, mida ei olnud väljastanud pank, vaid tasu eest tegutsev krediidireitinguasutus.
As explained in recital 172 of the original Regulation, the GOC directs preferential lending to a limited number of industries and the PV industry is one of them.
Kolmas dokument oli esialgse uurimise ajal juba tagasi lükatud, ilma et toimikusse oleks lisatud muid asjaolusid.
Based on the above, the same conclusion can be drawn, i.e. the authorities only allow the financial institutions to provide preferential loans to a limited number of industries/companies, which comply with the relevant policies of the GOC.
Seoses eurodes ja USA dollarites nomineeritud laenudega viidatakse põhjendusele (237), kus on loetletud turul esinevad moonutused.
On the basis of the evidence on the file and in the absence of cooperation from the GOC on this matter it is concluded that the subsidies in the form of preferential lending are not generally available and are therefore specific in the meaning of Article 4(2)(a) of the basic Regulation.
Sellised moonutused põhjendavad välise võrdlusaluse kasutamist ka selliste laenude puhul.
Moreover, there was no evidence submitted by any of the interested parties suggesting that the subsidy is based on objective criteria or conditions under Article 4(2)(b) of the basic Regulation.
Seoses Hiina valitsuse osutatud koostööd tegeva tootjaga ei toeta seda väidet toimikus toodud andmed.
Conclusion
Eksportiv tootja märkis, et Hiina rahvapanga intressimäär on nõuetekohane võrdlusalus, et kontrollida, kas laene on antud soodustingimustel.
The investigation showed that all sampled exporting producers benefited from the preferential lending in the RIP.
Samas on Hiina rahvapanga intressimäär seotud muu hulgas pankadevahelise laenuandmisega.
Accordingly, the financing of the PV industry should be considered a subsidy.
See ei ole asjakohane võrdlusalus fotoelektrisektori äriühingutele laenu andmisel selle uurimise asjaoludel, pidades eelkõige silmas eespool toodud selgitust, et võrdlusalust tuleks kasutada BB-reitinguga äriühingute puhul, samal ajal kui pankadel on tavaliselt oluliselt paremad reitingud, kui nad soovivad kasutada pankadevahelisi laene.
In view of the existence of a financial contribution, a benefit to the exporting producers and specificity, this subsidy should be considered countervailable.
See isik märkis ka, et komisjon ei olnud teinud mahaarvamist mõne antud laenu kasuks, mis ületasid arvutatud võrdlusalust.
Calculation of the subsidy amount
Samas – nii nagu esialgses uurimises – leiti, et need laenud ei tohiks arvutusele mõju avaldada.
Following the methodology applied in the original investigation, the amount of countervailable subsidy is calculated in terms of the benefit conferred on the recipients, which is found to exist during the RIP.
Lisaks väitis eksportiv tootja, et teda tuleks kohelda teistest valimisse kaasatud äriühingutest erinevalt, sest ta ei pidanud oma finantsolukorda enam BB-reitingule vastavaks.
According to Article 6(b) of the basic Regulation the benefit conferred on the recipients is considered to be the difference between the amount of interest that the company pays on the government loan and the amount that the company would pay for a comparable commercial loan obtainable on the market.
Pidades aga silmas, et komisjon kohaldas BB-reitingut kõikide äriühingute suhtes (nagu ka esialgsel uurimisel ja nagu on selgitatud põhjenduses 256), lükati see väide tagasi.
As explained above in recital 236 to 241, since the loans provided by Chinese banks reflect substantial government intervention in the banking sector and do not reflect rates that would be found in a functioning market, an appropriate market benchmark has been constructed using the method described below.
Üks valimisse kaasatud eksportiv tootja teatas, et osa tema laenudest oli seotud üksnes eksportimisega.
Furthermore, due to the lack of cooperation by the GOC, the Commission has also resorted to facts available in order to establish an appropriate benchmark interest rate.
Seda asjaolu võeti selliste laenudega seotud kasu arvutamisel arvesse.