natgillin/translations-raw huggingface dataset:
The Commission considered this as the most natural interpretation in the absence of any explanation (and corroborating documents) as to how the GOC precisely applied the notion of the PV industry e.g. for the purposes of Decision 40 and the related Guiding Catalogue of the Industrial Restructuring.
Po mnenju Komisije je bila to ob pomanjkanju kakršnega koli pojasnila (in dodatnih dokumentov) najbolj naravna razlaga tega, kako natančno je kitajska vlada uporabila pojem fotonapetostna industrija, npr. za namene Sklepa št. 40 in povezanega glavnega kataloga industrijskega prestrukturiranja.
Moreover as explained in recital (102) above the solar PV industry also belongs to the category of strategic industries as defined by the 12th five-year plan and on this basis enjoys access to preferential financing which is clear from the citations from various planning and policy documents and laws in the same recital.
Poleg tega, kot je pojasnjeno v uvodni izjavi (102), tudi solarna fotonapetostna industrija sodi v kategorijo strateških industrij, kot so opredeljene v 12. petletnem načrtu, in ima zato dostop do preferenčnega financiranja, kar je razvidno iz navedb iz različnih načrtov, političnih dokumentov in zakonov v isti uvodni izjavi.
The GOC also claimed that the Commission has not established the existence of benefit concerning preferential lending because the use for the external benchmark for the purpose of the benefit establishment was not supported by the Commission findings.
Kitajska vlada je trdila tudi, da Komisija ni ugotovila obstoja koristi v zvezi s preferenčnimi posojili, ker njene ugotovitve niso podprle uporabe zunanje referenčne vrednosti za določitev ugodnosti.
According to the GOC, the Commission had no basis to apply the BB rating as it did not provide any evidence that the BB rating is more likely to be undistorted credit rating that any other rating and its application ‘reflects the impermissible adverse inferences made in violation of Article 12.7 of the SCM Agreement’.
Kitajska vlada je navedla, da Komisija ni imela podlage za uporabo bonitetne ocene BB, saj ni dokazala, da je za to bonitetno oceno v primerjavi z drugimi bolj verjetno, da ni izkrivljena, in trdila, da njena uporaba „kaže na nedovoljene negativne sklepe, sprejete v nasprotju s členom 12.7 Sporazuma SIU“.
Given the distortions and the lack of proper creditworthiness or risk assessment of the sampled exporting producers by the lending banks, the Commission could not have taken the credit rating (if they had any at all) of the individual exporting producers at its face value.
Glede na izkrivljanja in odsotnost ustrezne ocene kreditne sposobnosti ali tveganja vzorčenih proizvajalcev izvoznikov, pridobljene od bank upnic, Komisija ni mogla pridobiti bonitetne ocene (če je sploh obstajala) posameznih proizvajalcev izvoznikov po nominalni vrednosti.
The BB rating is in this case not adverse inference and it is not unfavourable for the exporting producers because it is the best non- investment rating on the market.
Bonitetna ocena BB v tem primeru ni negativen sklep in ni neugodna za proizvajalce izvoznike, ker je najboljša neinvesticijska ocena na trgu.
The complainant claimed that the Commission should have used a less favourable credit rating than BB grade for the benchmark construction for some exporting producers which were in particularly bad financial situation.
Pritožnik je trdil, da bi morala Komisija za določitev referenčne vrednosti za nekatere proizvajalce izvoznike, ki so bili v posebej slabem finančnem položaju, uporabiti bonitetno oceno, ki je manj ugodna kot ocena BB.
For the reasons explained in Recital (429) above, the Commission considered the BB rating (non-investment grade) to appropriately reflect the financial situation of sampled exporting producers during the IP.
Zaradi razlogov, pojasnjenih v uvodni izjavi (429), je Komisija menila, da ocena BB (ocena „stopnja nevlaganja“) ustrezno izraža finančni položaj vzorčenih proizvajalcev izvoznikov v OP.
The complainant also requested that the Commission discloses the calculation of mark-up for loans in Chinese currency.
Pritožnik je zahteval tudi, da Komisija razkrije izračun pribitka za posojila v kitajski valuti.
The Commission explained the methodology in paragraph 169 of definitive disclosure document (replicated in recital (198) above).
Komisija je metodologijo pojasnila v odstavku 169 dokumenta o dokončnem razkritju (ponovljeno v uvodni izjavi (198)).
In line with the methodology from Coated Fine Paper and Organic Coated Steel proceedings the Commission adjusted the Chinese interest rates by adding the interest differential between the best rated bonds and BB rated bonds traded on markets in the IP.
V skladu z metodologijo iz preiskav v zvezi s premazanim finim papirjem in jeklom, prevlečenim z organskimi premazi, je Komisija prilagodila kitajske obrestne mere tako, da jim je prištela obrestno razliko med najbolje ocenjenimi obveznicami in obveznicami z oceno BB, s katerimi se je v OP poslovalo na trgu.
One exporting producer claimed that the Commission, in order to establish the benefit from preferential lending should compare the lending rates of the ‘favoured’ industries with those of the ‘non-favoured’ industries.
En proizvajalec izvoznik je trdil, da bi morala Komisija pri določitvi ugodnosti iz preferenčnih posojil primerjati posojilne obrestne mere za industrije, ki prejemajo ugodnosti, s posojilnimi obrestnimi merami za industrije, ki ne prejemajo koristi.
In view of the Commission analysis of the financial market (recitals (181) — (185)) this claim had to be rejected.
Glede na analizo finančnega trga, ki jo je opravila Komisija (uvodne izjave od (181) do (185)), je bilo treba to trditev zavrniti.
Taking into account the established distortions the interest rates in Chinese financial market are deemed to be unreliable.
Ob upoštevanju ugotovljenih izkrivljanj se šteje, da so obrestne mere na kitajskem finančnem trgu nezanesljive.
The GOC also claimed that for the EUR and USD loans the Commission should not resort to the external benchmark because one of the key elements on which the Commission based its distortion analysis, i.e. the PBOC limitations on interest rates does not exist for such loans.
Kitajska vlada je poleg tega trdila, da Komisija za posojila v USD in EUR ne bi smela uporabiti zunanje referenčne vrednosti, ker eden od ključnih elementov, na katere je Komisija oprla svojo analizo izkrivljanja, tj. omejitve obrestnih mer Ljudske banke Kitajske, za takšna posojila ne obstaja.
The PBOC limitations on the interest rates are just one of the key elements which the Commission used in its analysis of the Chinese financial market.
Omejitve obrestnih mer Ljudske banke Kitajske so le eden od ključnih elementov, ki jih je Komisija uporabila v svoji analizi kitajskega finančnega trga.
As explained in recitals (180) — (185) above there is number of other distortions which justified on their own the use of external benchmark also for EUR and USD denominated loans.
Kot je pojasnjeno v uvodnih izjavah od (180) do (185), obstaja veliko drugih izkrivljanj, ki so sama po sebi upravičila uporabo zunanje referenčne vrednosti tudi za posojila, izražena v EUR in USD.
Several exporters and the GOC claim that the Agreements between exporters and certain state-owned banks (referred to as ‘the Agreements’ in this section) are not equivalent to credit lines and do not amount to a financial contribution because they do not contain an obligation or commitment for the bank to provide future funding under particular terms and conditions.
Več izvoznikov in kitajska vlada trdijo, da sporazumi med izvozniki in določenimi bankami v državni lasti (v tem oddelku: „sporazumi“) niso enakovredni kreditnim linijam in niso finančni prispevki, saj bankam ne nalagajo obveznosti ali zaveze, da v prihodnosti zagotovijo financiranje pod posebnimi pogoji.
They also refer to the conclusions of the EC-Aircraft panel, which stated that the ‘mere possibility’ that a government may transfer funds under the fulfilment of a pre-defined condition will not be sufficient to demonstrate the existence of a financial contribution.
Sklicujejo se tudi na sklepe odbora ES za letala, ki je navedel, da „sama možnost“, da lahko vlada prenese sredstva na podlagi izpolnitve vnaprej določenega pogoja, ne zadostuje za dokaz, da finančni prispevek obstaja.
They noted the panel's statement that the contractual arrangement should ‘in and of itself, be claimed and capable of conferring a benefit on the recipient that is separate and independent to the benefit that might be conferred from any future transfer of funds.’
Opozorili so na izjavo odbora, da bi morala biti pogodbena ureditev „sama po sebi zahtevana in zmožna prejemniku prinesti korist, ki je ločena in neodvisna od koristi, ki bi jo lahko prinesel kakršen koli prihodnji prenos sredstev“.
With regard the findings of the EC-Aircraft panel, the Commission notes that such findings are not exhaustive with regard to the scope of credit lines or other similar agreements an do not bind the Commission's interpretation of the basic Regulation in this case.
Komisija v zvezi z ugotovitvami odbora ES – letala opozarja, da takšne ugotovitve niso izčrpne glede obsega kreditnih linij ali drugih podobnih sporazumov in v tem primeru ne omejujejo razlage osnovne uredbe s strani Komisije.
Nevertheless, the Commission does not disagree with the panel's conclusions, but with the application of those conclusions to the present investigation by the GOC.
Kljub temu Komisija ne nasprotuje ugotovitvam odbora, ampak uporabi navedenih ugotovitev s strani kitajske vlade v tej preiskavi.
The Agreements normally provide for the state-owned bank to lend up to the requisite amount of money, sometimes in conjunction with possible improvements in the performance of the firm involved.
Sporazumi običajno določajo, da bo banka v državni lasti zagotovila posojila do potrebnega zneska denarja, včasih v povezavi z možnimi izboljšavami uspešnosti zadevnega podjetja.
So, on the one hand, the text of the Agreements may contain textually less explicit or automatic obligations concerning the terms and conditions of future lending than those which feature some types of Credit Line Agreements.
Po eni strani lahko torej besedilo sporazuma vsebuje obveznosti v zvezi s pogoji za prihodnja posojila, ki so besedilno manj izrecne ali samodejne kot obveznosti v nekaterih vrstah sporazumov o kreditnih linijah.
They are sometimes supplemented by separate loan or credit agreements.
Včasih so dopolnjeni z ločenimi posojilnimi ali kreditnimi pogodbami.
However, it has been noted that loans under these Agreements are usually made on very similar, not to say identical terms.
Vendar pa je bilo ugotovljeno, da za posojila na podlagi teh sporazumov ponavadi veljajo zelo podobni, če ne povsem enaki pogoji.
On the other hand, the Agreements contain a number of provisions which go far beyond the normal language of credit line agreements and which amount to the creation of a guaranteed support mechanism by the bank in question.
Po drugi strani pa sporazumi vsebujejo več določb, ki močno presegajo običajno besedilo sporazumov o kreditnih linijah in pomenijo, da bo zadevna banka vzpostavila mehanizem zajamčene podpore.
The Commission considers that in this case the written provisions of the Agreements are not necessarily conclusive, because ‘obligations’ or ‘commitments’ to transfer funds may be expressed in written or unwritten form and that their existence should be determined on the basis of the totality of the facts on the record.
Komisija meni, da v tem primeru pisne določbe sporazumov niso nujno dokončne, saj se lahko „obveznosti“ ali „zaveze“ za prenos sredstev izrazijo v pisni ali drugi obliki, in da je treba njihov obstoj določiti na podlagi celovitosti zabeleženih dejstev.
On this basis, the exact nature of the commitments or obligations of the state-owned banks under the Agreements depends upon:
Na podlagi tega je natančni značaj zavez ali obveznosti bank v državni lasti v okviru sporazumov odvisen od:
The text of the Agreements: The Commission notes that provisions in the most significant agreements involving large state-owned banks and particular exporting producers are broadly similar.
besedila sporazumov: Komisija ugotavlja, da so določbe v najpomembnejših sporazumih, ki vključujejo velike državne banke in zlasti proizvajalce izvoznike, na splošno podobne.
The agreements establish a close link between the bank and exporter with regard to a transfer of funds.
Sporazumi vzpostavljajo tesno povezavo med banko in izvoznikom v zvezi s prenosom sredstev.
They provide for the transfer of the requisite amount of money, sometimes upon the fulfilment of certain conditions related to performance and credit rating.
Zagotavljajo prenos potrebnega zneska denarja, včasih ob izpolnitvi določenih pogojev v zvezi z uspešnostjo in bonitetno oceno.
The Agreements entitle the firm to ‘favourable treatment’ when applying for a loan compared to firms which have not signed such agreements.
Sporazumi podjetju dajejo pravico do „ugodnejše obravnave“, ko zaprosi za posojilo, v primerjavi s podjetji, ki takšnih sporazumov niso podpisala.
Some of the amounts of potential funding are huge compared to the firms' annual turnover.
Nekateri zneski potencialnega financiranja so ogromni v primerjavi z letnimi prihodki podjetij.
The amounts of credit promised to the sampled exporters accounted for more than 3 times their annual turnover.
Zneski posojil, ki so bili obljubljeni vzorčenim izvoznikom, so bili višji od trikratnika njihovih letnih prihodkov.
Furthermore, the Agreements provide for the bank to give strong support to the development of the company in question.
Poleg tega sporazumi določajo, da bo banka zagotovila močno podporo za razvoj zadevne družbe.
There are references to ‘a long-term stable strategic partnership’ between the bank and the firm, to the bank giving ‘priority’ to the firm's key construction projects, offering ‘long-term stable financial support’ to the firm ‘in respect of its asset acquisition and reorganization, fundamental formation of each business unit, technical improvement project, “Go Global” project and other businesses….’ and helping the firm to ‘formulate a medium and long term development planning by virtue of its professional advantages, institutional advantages and performance advantages.’ Agreements also mention that they comply with national macro-economic and industrial policy.
V njih se navaja „dolgoročno stabilno strateško partnerstvo“ med banko in podjetjem ter določa, da bo banka dala „prednost“ ključnim gradbenim projektom podjetja, podjetju nudila „dolgoročno stabilno finančno podporo … v zvezi z njegovo pridobitvijo sredstev in reorganizacijo, temeljnim oblikovanjem vsake poslovne enote, projekta za tehnične izboljšave, projekta ‚Go Global‘ ter v zvezi z drugimi posli …“ ter podjetju pomagala „oblikovati srednje- in dolgoročne razvojne načrte na podlagi njegovih strokovnih in institucionalnih prednosti ter prednosti v zvezi z uspešnostjo“. V sporazumih je tudi navedeno, da so v skladu z nacionalno makroekonomsko in industrijsko politiko.
Therefore, it would seem that the strategic support given to the firm, combined with the ‘favourable treatment’ accorded by the Agreements make it highly likely that the firm will be automatically eligible to draw down loans from the Agreements.
Zato se zdi, da je zaradi strateške podpore, ki je zagotovljena podjetju, v kombinaciji z „ugodnejšo obravnavo“, dodeljeno s sporazumom, zelo verjetno, da bo podjetje avtomatično upravičeno do črpanja posojil iz sporazumov;
The nature and objectives of the lenders: The lenders are state-owned banks which have been found to be public bodies or other banks which have been found to be entrusted and directed by the government and therefore act as an arm of the GOC.
značaja in ciljev posojilodajalcev: Posojilodajalci so banke v državni lasti, za katere se je ugotovilo, da so javni organi, ali druge banke, za katere se je ugotovilo, da jim vlada zaupa naloge in ukazuje ter zato delujejo kot roka kitajske vlade.
They have also been found to provide loans at well below market rates.
Poleg tega se je ugotovilo, da zagotavljajo posojila po stopnjah, ki so nižje od tržne.
For example, certain Agreements refers to the bank's ‘financing advantage’ and its support for ‘high-tech industry…having priority in development with the government concession’.
Nekateri sporazumi na primer navajajo „prednost glede financiranja“ s strani banke in njeno podporo za „visokotehnološko industrijo … ki ima prednost pri razvoju z vladno koncesijo“;
The government attitude towards the borrower: Borrowers belong to the strategic emerging industries as shown in the recital (102) above.
odnosa vlade do posojilojemalca: Posojilojemalci spadajo med strateške nastajajoče industrije, kot je prikazano v uvodni izjavi (102);
The degree of cooperation of the government with the investigation: The providers of the credit lines (state-owned banks and banks entrusted and directed by the government) have failed to fully cooperate with the investigation and findings relating to them have been made on facts available.
stopnje sodelovanja vlade v preiskavi: Ponudniki kreditnih linij (banke v državni lasti in banke, ki jim vlada zaupa naloge in ukazuje) niso v celoti sodelovali v preiskavi in ugotovitve v zvezi z njimi so bile utemeljene na razpoložljivih dejstvih;
The market perception of the Agreements: Companies seem to value the Agreements as evidence that they have the state backing behind them and publicly announce the conclusions of such agreements to send a positive signal to markets and potential investors.
dojemanja sporazumov s strani trga: Zdi se, da družbe sporazume dojemajo kot dokaz, da imajo državno podporo, in javno objavljajo sklenitve takšnih sporazumov, da bi poslale pozitivno sporočilo trgom in potencialnim vlagateljem.
For instance, on 9 July 2010, Yingli Solar issued a press release announcing a ‘strategic cooperation agreement’ with CDB, under which CDB ‘expects to grant credit facilities with an aggregate maximum amount of RMB 36 million to support Yingli Group and its affiliates’.
Skupina Yingli Solar je na primer 9. julija 2010 izdala sporočilo za javnost, v katerem je sporočila, da je sklenila „strateški sporazum o sodelovanju“ s Kitajsko razvojno banko, na podlagi katerega Kitajska razvojna banka „pričakuje, da bo odobrila posojila v najvišjem skupnem znesku 36 milijonov CNY za podporo skupine Yingli in njenih povezanih podjetij“. Finančni direktor družbe Yingli je izjavil, da je „[t]a sporazum dvignil sodelovanje dveh strank na novo raven, za kar menimo, da nam bo omogočilo, da izkoristimo možnosti za okrepitev našega vodilnega položaja v fotonapetostni industriji“.
All these announcements suggest that the exporting producers concerned see the Agreements as an established, rather than an uncertain, source of financing
Vse te objave kažejo, da zadevni proizvajalci izvozniki sporazume štejejo za uveljavljene, ne pa negotove, vire financiranja;
Operation of the Agreements: Numerous individual loans have been drawn down by exporting producers i.e. the agreements lead to an actual transfer of funds, usually at well below market rates.
delovanja sporazumov: Proizvajalci izvozniki so dobili veliko posameznih posojil, tj. rezultat sporazumov so dejanski prenosi sredstev, običajno po stopnjah, ki so precej nižje od tržne.
On the basis of all the evidence, it is concluded that the Agreements are offered by the banks as part of a government strategy to promote the PV industry and are considered to be of great value by the exporters concerned, irrespective of whether any funds are actually transferred.
Ob upoštevanju vseh dokazov se sklene, da banke ponujajo sporazume v okviru vladne strategije za spodbujanje fotonapetostne industrije in da zadevni izvozniki tem sporazumom pripisujejo velik pomen, ne glede na to, ali so sredstva dejansko prenesena.
This contradicts the arguments of the parties that they are effectively of no value.
To je v nasprotju z argumenti strani, da so sporazumi dejansko brez pomena.
Although the Agreements have the characteristics of normal credit lines, they go beyond the terms and conditions of normal credit lines and are effectively strategic partnerships between public bodies and firms to pursue government policy.
Čeprav imajo sporazumi značilnosti običajnih kreditnih linij, presegajo pogoje takšnih kreditnih linij in so dejansko strateška partnerstva med javnimi organi in podjetji s ciljem izvajati vladno politiko.
In this regard, they operate as a mechanism of state support/guarantee, which enhance the market position of the exporters concerned and enable them to expand their capacity and output with the certainty that they will receive the required funding.
Glede na to delujejo kot mehanizmi državne podpore/jamstva, ki krepijo tržni položaj zadevnih izvoznikov in jim omogočajo, da izboljšajo svoje zmogljivosti in rezultate, pri tem pa jim zagotavljajo, da bodo dobili potrebna finančna sredstva.
In the absence of such support/guarantee, the exporters would evidently be perceived by the markets as being in a weaker position.
Če takšne podpore/jamstva ne bi bilo, bi bili ti izvozniki po mnenju trgov očitno v slabšem položaju.
Consequently, they qualify as a potential transfer of funds or as a provision of financial services.
Zato ta podpora lahko pomeni prenos sredstev ali zagotavljanje finančnih storitev.
Such a valuable ‘guarantee’ would have some value in the market and, at the very least, would involve the payment of a substantial fee.
Takšno pomembno „jamstvo“ bi imelo na trgu določeno vrednost in bi vključevalo vsaj plačilo precejšnje pristojbine.
In view of this, the Agreements also confer a benefit which is, in the words of the EC-Aircraft panel ‘separate and independent to the benefit that might be conferred from any future transfer of funds’, due, inter alia, to the potential obligation of payments by the Government.
Glede na navedeno sporazumi prinašajo tudi korist, ki je po besedah odbora ES –letala„ločena in neodvisna od koristi, ki bi jo lahko prinesel kakršen koli prihodnji prenos sredstev“, med drugim zaradi potencialne plačilne obveznosti vlade.
They are more than just a vague ‘promise to provide’ cheap ‘financing’ [99] and clearly make the recipients ‘better off’ than they would be absent the Agreement.
So več kot le nejasna „obljuba za zagotovitev ‚ugodnega‘ financiranja“ [99] in prejemnikom nedvomno zagotavljajo „boljši položaj“, kot bi ga imeli brez sporazumov.
With regard to the amount of the benefit, this has been established on the basis of the fees charged for credit line obtained by one of the sampled exporting producers.
Znesek ugodnosti je bil določen na podlagi pristojbin, zaračunanih za kreditno linijo, ki jo je pridobil eden od vzorčenih proizvajalcev izvoznikov.
This credit line was granted by a bank whose headquarters is established in the financial jurisdiction other than PRC and it is shows all the elements of commercial credit lines available on world financial markets and other agreements found in the commercial sector.
To kreditno linijo je dodelila banka, katere sedež ni v finančni pristojnosti LRK, in ima očitno vse elemente poslovnih kreditnih linij, ki so na voljo na svetovnih finančnih trgih, ter drugih sporazumov, ki se uporabljajo v poslovnem sektorju.
It is also noted that this credit lines is not substantially different in its conditions from the other commercial credit lines obtained by the sampled exporting producers, where fees are charged, including those from foreign banks.
Opozoriti je treba tudi, da se pogoji te kreditne linije ne razlikujejo bistveno od pogojev drugih poslovnih kreditnih linij, ki so jih pridobili vzorčeni proizvajalci izvozniki in za katere se zaračunavajo pristojbine, vključno s kreditnimi linijami tujih bank.
In view of the above analysis, this is a conservative benchmark, as the evidence indicates that the Agreements are in reality more valuable to firms as a stand-alone measure than a standard credit line.
Glede na zgornjo analizo je to nizka referenčna vrednost, saj dokazi kažejo, da so sporazumi v obliki samostojnega ukrepa za podjetja v resnici vredni več kot standardne kreditne linije.