natgillin/translations-raw huggingface dataset:
In the Appendix A to the questionnaire the Commission requested information on how the banks take account of risk when granting loans, how the creditworthiness of the borrower is assessed, what are the risk premiums charged for different companies/industries in the PRC by the bank, which are the factors the bank takes into account when assessing the loan application, the description of the loan application and approval process etc. However, neither the GOC nor the individual banks identified in the questionnaire provided any evidence in this respect (with one exception referred to in recital (176) below. The GOC provided only replies of general nature not supported by any evidence whatsoever that any kind of credit risk assessment actually takes place.
Komisija je v Dodatku A k vprašalniku zahtevala informacije o tem, kako banke pri odobritvi posojil upoštevajo tveganje, kako se ocenjuje kreditna sposobnost posojilojemalca, kakšne premije za tveganje zaračuna banka različnim družbam/panogam v LRK, katere dejavnike banka upošteva pri obravnavi vloge za posojilo, opis vloge za posojilo in postopka odobritve itd. Vendar kitajska vlada in posamezne banke, opredeljene v vprašalniku, o tem niso predložile nobenih dokazov (z eno izjemo, navedeno v uvodni izjavi (176)). Kitajska vlada je navedla le splošne odgovore, ki niso bili podprti z nobenimi dokazi, da se kakršna koli ocena kreditnega tveganja dejansko sploh izvaja.
During the verifications of one of the banks the Commission was able to review one risk assessment.
Komisija je med preverjanjem ene od bank lahko pregledala eno oceno tveganja.
Part of that credit risk assessment referred to government support for the solar companies and state plans to promote the photovoltaic industry in general and this fact was reflected positively in the credit rating awarded to this company.
Del te ocene kreditnega tveganja se je nanašal na vladno podporo za družbe na področju solarne energije in državne načrte za spodbujanje fotonapetostne industrije na splošno, to pa se je pozitivno izrazilo v bonitetni oceni, dodeljeni temu podjetju.
This is an example of how the government policy (and subsidies directed to a certain sector) influences the decision-making of the banks when deciding on the terms of financing to solar companies.
To je primer, kako vladna politika (in subvencije, usmerjene v določen sektor) vpliva na odločanje bank o pogojih financiranja družb na področju solarne energije.
The Commission also requested similar information from the cooperating exporting producers and attempted to verify it during the on-spot verification visits of sampled exporting producers.
Komisija je podobne informacije zahtevala tudi od sodelujočih proizvajalcev izvoznikov in jih poskušala preveriti med preveritvenimi obiski pri vzorčenih proizvajalcih izvoznikih na kraju samem.
Most of the exporting producers replied that banks request certain documents and perform some kind of credit risk analysis before the loans are granted.
Večina proizvajalcev izvoznikov je odgovorila, da banke pred odobritvijo posojil zahtevajo nekatere dokumente in opravijo neko vrsto analize kreditnega tveganja.
During the on-spot verification, the Commission asked for the evidence that the banks requested such documents or that these documents were provided to the banks by the companies, or any kind of report issued by the banks proving that such credit risk analysis was performed.
Komisija je med preverjanjem na kraju samem zaprosila za dokaze, da so banke zahtevale take dokumente ali da so jih družbe predložile bankam, oziroma kakršno koli poročilo, ki so ga objavile banke in bi dokazovalo, da je bila taka analiza kreditnega tveganja opravljena.
But the sampled groups of exporting producers were not able to provide such evidence, neither were they able to provide any other evidence supporting their claims.
Toda vzorčene skupine proizvajalcev izvoznikov niso mogle predložiti takih dokazov niti nobenih drugih dokazov, ki bi podprli njihove trditve.
The information concerning credit risk assessment was repeatedly requested from interested parties as it is considered crucial inter alia account taken of the information referred to in recital (167) above.
Od zainteresiranih strani se je večkrat zahtevalo, da zagotovijo informacije o oceni kreditnega tveganja, saj se med drugim glede na informacije iz uvodne izjave (167) štejejo za ključne.
In view of the above, the findings concerning the credit risk assessment in the PRC apply to state-owned commercial banks, privately owned commercial banks as well as to the policy banks.
Glede na navedeno ugotovitve v zvezi z oceno kreditnega tveganja v LRK veljajo za državne poslovne banke, zasebne poslovne banke ter banke za izvajanje politik.
Indeed the above evidence leads to the conclusion that private banks in the PRC are required to follow government policies with regard to lending, in particular to the PV sector and to act in the same way as state-owned banks, which have been found in recital (168) to be public bodies.
Dejansko je na podlagi navedenih dokazov mogoče sklepati, da se od zasebnih bank v LRK zahteva, da upoštevajo vladne politike v zvezi s posojanjem, zlasti za fotonapetostni sektor, in delujejo na enak način kot državne banke, za katere je bilo v uvodni izjavi (168) ugotovljeno, da so javni organi.
It is therefore concluded that private banks are 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.
Zato se sklene, da kitajska vlada zasebnim bankam zaupa naloge in jim ukazuje, da opravljajo funkcije, ki so običajno v pristojnosti vlade, v smislu člena 3(1)(a)(iv) osnovne uredbe.
In addition, the above evidence demonstrates that 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.
Poleg tega navedeni dokazi kažejo, da tudi če se ne bi štelo, da so državne banke javni organi, bi se vseeno štelo, da jim kitajska vlada zaupa naloge ali jim ukazuje opravljanje funkcij, ki so običajno v pristojnosti vlade, v smislu člena 3(1)(a)(iv) osnovne uredbe.
Distortions of Chinese financial market
Izkrivljanje kitajskega finančnega trga
From information collected throughout this investigation it can be concluded that the state-owned banks' share amounts to more than 2/3 of the Chinese market.
Iz informacij, ki so se zbirale ves čas te preiskave, je mogoče sklepati, da delež državnih bank znaša več kot dve tretjini kitajskega trga.
The five largest state-owned commercial banks (the Agricultural Bank, the Bank of China, the Construction Bank of China, the Bank of Communications and the Industrial and Commercial Bank ) represent more than half of the Chinese banking sector [65].
Pet največjih državnih poslovnih bank (Kmetijska banka, Banka Kitajske, Konstrukcijska banka Kitajske, Komunikacijska banka ter Industrijska in poslovna banka) predstavlja več kot polovico kitajskega bančnega sektorja [65].
In addition, the China Development Bank and the China Export-Import Banks are fully state-owned.
Poleg tega sta Kitajska razvojna banka in Kitajska izvozno-uvozna banka v celoti v državni lasti.
These seven banks provided the big majority of loans to the eight sampled exporting producers in the Solar panel case.
Teh sedem bank je odobrilo veliko večino posojil osmim vzorčenim proizvajalcem izvoznikom v zadevi v zvezi s solarnimi paneli.
This pervasive state-ownership combined with the distortions of the Chinese financial market and with the Chinese Government's policy to direct cheap money towards selected industries, undermines the level playing field in international trade and provides an unfair advantage to Chinese producers.
To razširjeno državno lastništvo skupaj z izkrivljanjem kitajskega finančnega trga in kitajsko vladno politiko, ki narekuje usmerjanje poceni denarja v izbrane industrije, ogroža enake konkurenčne pogoje v mednarodni trgovini in kitajskim proizvajalcem daje nepravično prednost.
Banks in the PRC are not entirely free to decide the conditions of the loans.
Banke v LRK niso popolnoma svobodne pri odločanju o posojilnih pogojih.
In respect of interest rates they are bound to stay within the limits set by the People's Bank of China (PBOC).
Obrestne mere morajo ohraniti v mejah, ki jih je določila Ljudska banka Kitajske.
These limits together with the ceilings imposed on deposit rates create a situation in which the banks have guaranteed access to cheap capital (because of the deposit rates regulation) and are able to lend this on at favourable rates to selected industries.
Te omejitve skupaj z zgornjimi mejami, določenimi za obrestne mere za vloge, ustvarjajo razmere, v katerih so banke zagotovile dostop do poceni kapitala (zaradi reguliranja obrestnih mer za vloge) in ga lahko izbranim industrijam posodijo po ugodnih obrestnih merah.
Banks are also subject to legal rules which require them, inter alia, to carry out their loan business according to the needs of national economy [66], provide credit support to encouraged projects [67] or give priority to the development of high and new technology industries [68].
Za banke veljajo tudi pravna pravila, v skladu s katerimi morajo med drugim poslovanje s posojili prilagoditi potrebam nacionalnega gospodarstva [66], zagotoviti kreditno podporo za spodbujane projekte [67] ali dati prednost razvoju visokotehnoloških industrij in industrij z novo tehnologijo [68].
Banks are under obligation to follow these rules.
Banke so zavezane upoštevati ta pravila.
According to recent findings some big commercial banks in the PRC were granted access to state foreign exchange reserves [69].
Glede na nedavne ugotovitve je bil nekaterim velikim poslovnim bankam v LRK odobren dostop do državnih deviznih rezerv [69].
This significantly decreases their cost of capital and this ‘cheap money’ is used for USD and EUR loans for selected companies and projects in line with the ‘going out’ policy.
To je občutno zmanjšalo njihove stroške kapitala, ta „poceni denar“ pa se uporablja za posojila v USD in EUR izbranim podjetjem in projektom v skladu s politiko spodbujanja naložb po svetu (t. i. politika „go out“).
Thus, they are able to offer conditions which normal commercial banks cannot match.
Zato lahko ponudijo pogoje, ki jim običajne poslovne banke ne morejo konkurirati.
Another major distortion in the financing of the photovoltaic industry is the special privileged position of the China Development Bank (‘CDB’) which is the major lender to this industry and provided big bulk of loans and credit lines to the sampled exporting producers.
Drugo veliko izkrivljanje v financiranju fotonapetostne industrije je poseben privilegiran položaj Kitajske razvojne banke („KRB“), ki je glavni posojilodajalec tej industriji ter je zagotovila velik delež posojil in kreditnih linij vzorčenim proizvajalcem izvoznikom.
The CDB is financed almost completely by bond sales rather than by deposits and it is, after the Ministry of Finance, the second biggest bond issuer in the country.
KRB se skoraj v celoti financira s prodajo obveznic in ne z vlogami ter je drugi največji izdajatelj obveznic v državi, takoj za ministrstvom za finance.
Through this special mechanism the CDB is able to finance itself cheaply and subsequently is able to offer loans at preferential conditions to selected industries [70].
Prek tega posebnega mehanizma se lahko KRB ugodno financira in zato lahko izbranim industrijam omogoča posojila po ugodnejših pogojih [70].
Preferential loans
Preferenčna posojila
The complainant alleged that the GOC subsidizes its PV industry through preferential loans and directed credit.
Pritožnik je trdil, da kitajska vlada subvencionira kitajsko fotonapetostno industrijo prek preferenčnih posojil in usmerjenih kreditov.
The following legal provisions provide for preferential lending in China: Law of the PRC on Commercial Banks, General Rules on Loans (implemented by the People's Bank of China), Decision No 40 of the of the State Council on Promulgating and Implementing the Temporary Provisions on Promoting the Industrial Structure Adjustment.
Naslednje pravne določbe urejajo preferenčna posojila na Kitajskem: Zakon LRK o komercialnih bankah, Splošna pravila o posojilih (ki jih izvaja Ljudska banka Kitajske) in Sklep št. 40 državnega sveta o razglasitvi in izvajanju začasnih določb o spodbujanju prilagajanja industrijske strukture.
Having regard to the totality of the evidence, 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 (168) above, because they are vested with government authority and exercise government functions.
Ob upoštevanju vseh dokazov se sklene, da veliko večino posojil vzorčenim skupinam proizvajalcev izvoznikov zagotavljajo državne banke, za katere se je v uvodni izjavi (168) ugotovilo, da so javni organi, ker jim je zaupano pooblastilo vlade in opravljajo vladne funkcije.
There is further evidence that these banks effectively exercise government authority since, as it is explained in recital (164), 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.
Obstajajo nadaljnji dokazi o tem, da te banke dejansko izvajajo pooblastilo vlade, saj, kot je pojasnjeno v uvodni izjavi (164), država (tj. Ljudska banka Kitajske) očitno posega v način, kako poslovne banke odločajo o obrestnih merah za posojila, ki jih odobrijo kitajskim družbam.
The fact that banks exercise government authority is also confirmed by the way Articles 7 and 15 of the General Rules on Loans (implemented by the PBOC), Decision 40 and Article 34 of the Law on Commercial Banks act with respect to the fulfilment of the government industrial policies.
Dejstvo, da banke izvajajo vladno pooblastilo, potrjuje tudi način uporabe členov 7 in 15 Splošnih pravil o posojilih (ki jih izvaja Ljudska banka Kitajske), Sklepa št. 40 in člena 34 Zakona o komercialnih bankah v zvezi z uresničevanjem vladnih industrijskih politik.
There is also a great deal of circumstantial evidence, supported by objective studies and reports, that a large amount of government intervention is still present in the Chinese financial system as already explained in recitals (172) and (178) above.
Obstaja tudi veliko posrednih dokazov, podprtih z nepristranskimi raziskavami in poročili, da so v kitajskem finančnem sistemu še vedno prisotni številni posegi vlade, kot je že pojasnjeno v uvodnih izjavah (172) in (178).
Finally, the GOC failed to provide information which would have enabled a greater understanding of the state-owned banks' relationship with government as explained in recitals (139) and (140).
Kitajska vlada nenazadnje tudi ni zagotovila informacij, ki bi omogočale boljše razumevanje povezave med državnimi bankami in vlado, kot je pojasnjeno v uvodnih izjavah (139) in (140).
Thus, in the case of loans provided by state-owned commercial banks in the PRC, the Commission concludes that there is 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.
Zato je Komisija v primeru posojil, ki so jih odobrile državne poslovne banke v LRK, sklenila, da gre za finančni prispevek proizvajalcem fotonapetostnih izdelkov v obliki neposrednega prenosa sredstev vlade v smislu člena 3(1)(a)(i) osnovne uredbe.
In addition, the same evidence shows that SOCBs (as well as privately owned banks) are entrusted or directed by the government and this consequently means that a financial contribution exists within the meaning of Article 3(1)(a)(iv) of the basic Regulation.
Poleg tega isti dokazi kažejo, da vlada državnim bankam (in zasebnim bankam) zaupa naloge ali jim ukazuje, kar pomeni, da gre za finančni prispevek v smislu člena 3(1)(a)(iv) osnovne uredbe.
In view of the analysis in recitals (169) to (178) above, it is also determined that privately-owned banks are entrusted and directed by the GOC to provide loans to the PV producers and that a financial contribution exists under Articles 3(1)(a)(i) and 3(1)(a)(iv) of the basic Regulation.
Ob upoštevanju analize iz uvodnih izjav od (169) do (178) je bilo ugotovljeno tudi, da kitajska vlada zasebnim bankam zaupa naloge in jim ukazuje, da zagotavljajo posojila proizvajalcem fotonapetostnih izdelkov, ter da gre za finančni prispevek v skladu s členom 3(1)(a)(i) in (iv) osnovne uredbe.
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.
Ugodnost v smislu členov 3(2) in 6(b) osnovne uredbe obstaja v obsegu, v katerem se vladna posojila ali posojila zasebnih organov na podlagi zaupanja nalog ali ukazov vlade odobrijo pod pogoji, ugodnejšimi od tistih, ki bi jih prejemnik dejansko lahko pridobil na trgu.
Non-government loans in the PRC do not provide an appropriate market benchmark, since it has been established that privately-owned banks are entrusted and directed by the GOC and therefore be presumed to follow the lending practices of the state-owned banks.
Nevladna posojila v LRK ne zagotavljajo ustrezne referenčne vrednosti, ker je bilo ugotovljeno, da zasebnim bankam zaupa naloge ali ukazuje kitajska vlada, zato je mogoče domnevati, da sledijo posojilni praksi državnih bank.
Therefore, benchmarks have been constructed using the method described in recitals (198) — (200) below.
Zato so bile referenčne vrednosti oblikovane po metodi, opisani v uvodnih izjavah od (198) do (200).
Use of this benchmark demonstrates that loans are granted to the PV sector at below-market terms and conditions.
Uporaba te referenčne vrednosti kaže, da so posojila fotonapetostnemu sektorju odobrena pod pogoji in okoliščinami, ugodnejšimi od tržnih.
The PV industry belongs to the encouraged category according to Decision No. 40. Decision No 40, is an Order from the State Council, which is the highest administrative body in the PRC and in that regard the decision is legally binding for other public bodies and the economic operators. It classifies the industrial sectors into ‘Encouraged, Restrictive and Eliminated Projects’. This Act represents an industrial policy guideline that along with the Directory Catalogue shows how the GOC maintains a policy of encouraging and supporting groups of enterprises or industries, such as the PV/New Energy industry, classified by the Directory Catalogue as an ‘Encouraged industry’. With respect to the number of industries listed as ‘Encouraged’ it is noted that these represent only a portion of the Chinese economy. Furthermore, only certain activities within these encouraged sectors are given ‘encouraged’ status.
Fotonapetostna industrija je uvrščena v kategorijo spodbujanih industrij v skladu s Sklepom št. 40.
Decision No 40 also stipulates under Article 17 that the ‘Encouraged investment projects’ shall benefit from specific privileges and incentives, inter alia, from financial support.
Člen 17 Sklepa št. 40 določa tudi, da so „spodbujani investicijski projekti“ upravičeni do posebnih ugodnosti in spodbud, med drugim finančne podpore.
On the other hand, with reference to the ‘Restrictive and Eliminated Projects’, Decision No 40 empowers the state authorities to intervene directly to regulate the market.
Po drugi strani Sklep št. 40 v zvezi z „omejenimi in izključenimi projekti“ pooblašča državne organe, da neposredno posredujejo in urejajo trg.
In fact, Articles 18 and 19 provide that the relevant authority prevents financial institutions from supplying loans to such ‘Restrictive and Eliminated Projects’.
Pravzaprav člena 18 in 19 določata, da ustrezni organi finančnim institucijam preprečijo odobritev posojil takim „omejenim in izključenim projektom“.
It is clear from the above that Decision No 40 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.
Iz navedenega je jasno, da Sklep št. 40 določa obvezujoče predpise za vse gospodarske institucije v obliki usmeritev glede spodbujanja in podpore spodbujanih industrij, med katerimi je tudi fotonapetostna industrija.
As explained in recital (172) above the GOC directs preferential lending to the limited number of industries and the PV industry is one of them.
Kot je pojasnjeno v uvodni izjavi (172), se omejenemu številu industrij, med katerimi je tudi fotonapetostna industrija, po ukazu kitajske vlade namenjajo preferenčna posojila.
Taking all the above into consideration it becomes clear that 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.
Ob upoštevanju vsega navedenega je jasno, da organi finančnim institucijam dovolijo zagotavljanje preferenčnih posojil zgolj omejenemu številu industrij/družb, ki delujejo v skladu z ustreznimi politikami kitajske vlade.
On the basis of the evidence on the file and in the absence of the cooperation from the GOC on this matter it is concluded 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.
Na podlagi vseh pridobljenih dokazov in zaradi nesodelovanja kitajske vlade v tej zadevi je bilo sklenjeno, da subvencije v obliki preferenčnih posojil niso splošno razpoložljive in so zato specifične v smislu člena 4(2)(a) osnovne uredbe.
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.
Poleg tega zainteresirane strani niso predložile nobenih dokazov o tem, da subvencija temelji na objektivnih merilih ali pogojih iz člena 4(2)(b) osnovne uredbe.
The investigation showed that all sampled exporting producers benefited from the preferential lending in the investigation period.
Preiskava je pokazala, da so vsi vzorčeni proizvajalci izvozniki imeli ugodnosti od preferenčnih posojil v obdobju preiskave.
Accordingly, the financing of the PV industry should be considered a subsidy.
Ob upoštevanju navedenega je treba financiranje fotonapetostne industrije obravnavati kot subvencijo.
As explained above (recital (190)), 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.
Kot je bilo pojasnjeno (uvodna izjava (190)), posojila, ki jih zagotavljajo kitajske banke, odražajo znatno poseganje vlade v bančni sektor in ne odražajo obrestnih mer delujočega trga, zato je bila ustrezna referenčna vrednost oblikovana po metodah, opisanih v nadaljevanju.
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.
Poleg tega je Komisija, da bi določila ustrezno referenčno obrestno mero, zaradi nesodelovanja kitajske vlade uporabila razpoložljiva dejstva.
When constructing an appropriate benchmark for RMB denominated loans, it is considered reasonable to apply Chinese interest rates, adjusted to reflect normal market risk.
Pri oblikovanju ustrezne referenčne vrednosti za posojila, izražena v CNY, se zdi smiselno, da se uporabijo kitajske obrestne mere, prilagojene tako, da odražajo običajno tržno tveganje.