natgillin/translations-raw huggingface dataset:
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.
Poleg tega je Komisija, da bi določila ustrezno referenčno obrestno mero, zaradi nesodelovanja kitajske vlade uporabila razpoložljiva dejstva.
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.
Kot v prvotni preiskavi se zdi smiselno, da se pri oblikovanju ustrezne referenčne vrednosti za posojila, izražena v CNY, uporabijo kitajske obrestne mere, prilagojene tako, da izražajo običajno tržno tveganje.
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.
Pravzaprav se zdi, kadar je tekoče finančno stanje izvoznikov ugotovljeno na izkrivljenem trgu ter kitajske banke ne predložijo nobenih zanesljivih informacij glede meritev tveganja in določanja bonitetne ocene, nujno, da se ne upošteva kreditna sposobnost kitajskih izvoznikov po nominalni vrednosti, ampak se doda pribitek, ki izraža potencialni učinek kitajskega izkrivljenega trga na njihov finančni položaj.
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.
Uporabljene referenčne vrednosti [41] so:
Private banks
Obdobje
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.
Referenčna vrednost CNY (%)
Accordingly, the Commission decided to eliminate the marginal benefit arising from these loans from the subsidy calculation.
Do 1 leta
Therefore, the Commission did not have to address the GOC comments in this regard.
1 do 5 let
Specificity
Več kot 5 let
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.
Za posojila, izražena v tujih valutah, veljajo podobne razmere v zvezi z izkrivljanjem trga in odsotnostjo veljavnih bonitetnih ocen, ker tudi ta posojila odobrijo kitajske banke.
On the contrary, the investigation brought additional elements confirming the original finding.
Zato so se za določitev naslednjih referenčnih vrednosti [42] tako kot v prvotni preiskavi uporabile podjetniške obveznice z bonitetno oceno BB, izražene v ustreznih valutah in izdane v OPP:
One sampled exporting producer indicated that ‘Historically, China Development Bank has provided us with loans for our solar power project financing.
Valuta
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].
Referenčna vrednost (%)
Additionally, a credit approval report also assessed positively the fact that the photovoltaic sector benefits government support and is promoted by national policy.
Po razkritju je kitajska vlada ugovarjala dodanemu pribitku za določitev referenčne vrednosti za posojila, izražena v CNY, na podlagi dejstva, da ni bilo nobene dejanske podlage, na kateri bi Komisija glede na podatke o njihovi uspešnosti in o dobičkonosnosti lahko menila, da je vzorčenim družbam treba dati oceno „BB“, ter trdila, da taka okoliščina velja za celotni sektor.
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.
Prav tako je ugovarjala metodologiji, uporabljeni za določitev referenčne vrednosti za posojila, izražena v EUR in USD, z utemeljitvijo, da PBOC ni določila najnižje dovoljene posojilne obrestne mere za posojila v navedenih valutah in jih banke lahko ponudijo po kateri koli obrestni meri.
Furthermore, no interested parties could provide supporting evidence that banks were assessing the creditworthiness of the PV industry adequately.
Prav tako se je sklicevala na enega sodelujočega izvoznika, za katerega je bila izračunana referenčna vrednost nižja od obrestne mere, po kateri so bila odobrena vsa posojila.
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.
Kar zadeva uporabljeni pribitek in bonitetne ocene, Komisija ni od bank prejela nobenih smernic za določanje bonitetne ocene družb.
Furthermore, it indicated that the SEC filing of one Chinese producer cannot provide evidence of government policy.
Poleg tega nekaj dokumentov, ki so jih pokazale družbe same, ni bilo zanesljivih za namene ocenjevanja njihove kreditne sposobnosti.
It is first noted that the claims concerning the 13th Five-Year plan and Decision 40 have been addressed in recitals 87 and 89.
Ena družba je tako predložila bonitetno oceno, povezano z eno od njenih številnih družb, ki niso dejavne v fotonapetostnem sektorju.
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.
Druga družba je predložila dokument, ki ga ni izdala banka, ampak plačana bonitetna agencija.
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.
Tretji dokument je bil zavrnjen že v prvotni preiskavi in v spis niso bili vloženi nobeni dodatni elementi.
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.
Kar zadeva posojila, izražena v EUR in USD, je naveden sklic na uvodno izjavo 237, v kateri so navedena izkrivljanja trga.
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.
Takšna izkrivljanja upravičujejo uporabo zunanje referenčne vrednosti tudi za taka posojila.
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.
Kar zadeva sodelujočega proizvajalca, na katerega se je sklicevala kitajska vlada, ta trditev ni podprta s podatki iz spisa.
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.
Eden od proizvajalcev izvoznikov je menil, da je obrestna mera Ljudske banke Kitajske primerno merilo za preverjanje, ali so posojila dana pod ugodnejšimi pogoji.
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.
Vendar se obrestna mera PBOC med drugim nanaša na medbančna posojila.
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.
Ne gre za ustrezno referenčno vrednost za posojila za fotonapetostne družbe v okoliščinah v tej preiskavi, posebej ob upoštevanju dejstva, da je zgoraj pojasnjeno, da bi referenčna vrednost morala biti za družbe z bonitetno oceno BB, saj imajo banke praviloma veliko boljše ocene, če želijo imeti dostop do medbančnih posojil.
Conclusion on the findings of the investigation
Ta stran je tudi trdila, da Komisija ni opravila odbitka v korist maloštevilnih odobrenih posojil, ki presegajo izračunano referenčno vrednost.
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.
Vendar se je enako kot v prvotni preiskavi štelo, da ta posojila ne bi smela vplivati na izračun.
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.
Poleg tega je proizvajalec izvoznik trdil, da bi ga morali obravnavati drugače od drugih vzorčenih družb, saj je menil, da njegov finančni položaj ne ustreza več bonitetni oceni BB.
In these circumstances, the lending practices of these entities are directly attributable to the government.
Vendar pa ob upoštevanju dejstva, da je Komisija uporabila bonitetno oceno BB za vse družbe (tako kot v prvotni preiskavi in kot je pojasnjeno v uvodni izjavi 256 spodaj), je bila ta trditev zavrnjena.
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.
En vzorčeni proizvajalec izvoznik je navedel, da so bila nekatera njegova posojila povezana samo z izvoznimi dejavnostmi.
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.
Ta značilnost se je upoštevala pri izračunu ugodnosti, ki izhajajo iz takih posojil.
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.
Komisija je glede na navedeno, kot je pojasnjeno v uvodnih izjavah 47, 107 in 110, od kitajske vlade in vzorčenih proizvajalcev izvoznikov zahtevala, naj predložijo informacije o posojilnih politikah kitajskih bank in načinu, kako so posojila dodeljena proizvajalcem izvoznikom.
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.
Kljub večkratnim zahtevam teh informacij ni dobila.
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).
Glede na nesodelovanje in vsa razpoložljiva dejstva ter v skladu z določbami člena 28(6) osnovne uredbe se zdi primerno, da se tako kot v prvotni preiskavi upošteva, da bi vsi proizvajalci fotonapetostnih izdelkov na Kitajskem dobili samo obveznice z najvišjo oceno „špekulativnega razreda“ (BB pri Bloombergu), in uporabi ustrezna premija, pričakovana za obveznice, ki jih izdajo podjetja s to oceno, za običajno obrestno mero Ljudske banke Kitajske.
Therefore, benchmarks have been constructed using the method described in recitals 246 to 248 below.
Trdilo se je, da bi bilo treba znižati bonitetno oceno kitajske fotonapetostne industrije z BB na C ali nižje zaradi „dejanskih neplačil in izredno šibkih bilanc celo pri največjih kitajskih proizvajalcih“.
This benchmark demonstrates that loans are granted to the PV sector at below-market terms and conditions.
To zahtevo je treba zavrniti, saj iz razpoložljivih informacij ni razvidno, da bi bila fotonapetostna industrija v slabšem ali boljšem položaju kot v prvotni preiskavi.
As established in recital 191 of the original Regulation, the PV industry belongs to the encouraged category according to Decision 40.
Zato se je štelo primerno ohraniti metodologijo, uporabljeno v prvotni preiskavi.
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.
Ugodnosti za vzorčene proizvajalce izvoznike so bile zato izračunane z upoštevanjem razlike v obrestnih merah, izražene v odstotku, pomnožene z neporavnanim zneskom posojila, tj. z obrestmi, ki niso bile poravnane v OPP.
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.
Ta znesek se je nato prištel skupnemu prometu zadevnih proizvajalcev izvoznikov ali, kadar je to primerno, skupnim prihodkom od izvoza.
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.
Stopnje subvencije, določene za to shemo v OPP za vzorčene proizvajalce izvoznike, so:
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.
Družba/skupina
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.
Stopnja subvencije (%)
Conclusion
Jinko Solar Co.
The investigation showed that all sampled exporting producers benefited from the preferential lending in the RIP.
Ltd. in povezane družbe
Accordingly, the financing of the PV industry should be considered a subsidy.
Changzhou Trina Solar Energy Co.
In view of the existence of a financial contribution, a benefit to the exporting producers and specificity, this subsidy should be considered countervailable.
Ltd. in povezane družbe
Calculation of the subsidy amount
Zahtevek je vseboval trditve, da so kitajske banke kitajskim izvoznikom izdelka, ki se pregleduje, zagotavljale nesorazmerne kreditne linije.
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.
Preiskava je potrdila, da so dejansko vse preiskovane družbe od kitajskih bank prejele znatne kreditne linije, ki so bile večinoma zagotovljene brez pristojbin.
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.
Ugotovitve preiskave
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.
Kreditne linije lahko pomenijo prenos sredstev
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.
Poročilo odbora ES – letala je potrdilo, da take kreditne linije poleg učinkov posameznih posojil lahko pomenijo neposredne prenose sredstev v skladu z določbo prava STO, ki ustreza členu 3(1)(a)(i) osnovne uredbe, in s tem finančne prispevke.
As done in the original investigation, when constructing an appropriate benchmark for RMB denominated loans, it is considered reasonable to apply Chinese interest rates, adjusted to reflect normal market risk.
Odbor je ugotovil, da potencialni prenos sredstev izhaja iz samega obstoja obveznosti, da se opravi neposreden prenos sredstev.
Indeed, in a context where the exporters' current financial state has been established in a distorted market and there is no reliable information from the Chinese banks on the measurement of risk and the establishment of credit ratings, it is considered necessary not to take the creditworthiness of the Chinese exporters at face value, but to apply a mark-up to reflect the potential impact of the Chinese distorted market on their financial situation.
Odbor je ugotovil tudi, da lahko kreditna linija sama po sebi pomeni ugodnost za podjetje prejemnika in je tako lahko pomenila prenos sredstev ločeno od kakršnih koli neposrednih prenosov sredstev v obliki posameznih posojil [43].
The benchmarks [41] used are as follows:
Banke, ki zagotavljajo kreditne linije, so javni organi ali pa jim vlada zaupa naloge
Period
Kreditne linije so vzorčenim proizvajalcem izvoznikom zagotovile iste banke, kot so izvajale preferenčne posojilne politike iz oddelka 3.4.1.1.
RMB Benchmark (%)
Te banke so javni organi (glej uvodne izjave 136, 151, 166, 185 in 186).
up to 1 year
Izvršujejo vladno funkcijo spodbujanja fotonapetostne industrije v skladu s centralnim načrtovanjem, kakor je navedeno zgoraj v oddelku 3.2.
1 to 5 years
Glede na izpolnjene vprašalnike so trije vzorčeni proizvajalci izvozniki kreditne linije prejeli brezplačno.
over 5 years
V normalnih tržnih razmerah so take kreditne linije predmet znatnega stroška rezervacije sredstev posojila in upravnih pristojbin, s katerimi banke krijejo stroške in tveganja.
As for loans denominated in foreign currencies, a similar situation in respect of market distortions and the absence of valid credit ratings applies, because these loans are also granted by Chinese banks.
Znesek ugodnosti predstavljajo pristojbine, ki se običajno zaračunavajo za poslovne kreditne linije za družbe in ki so jih bili vzorčeni proizvajalci izvozniki v večini primerov oproščeni.
Therefore, as in the original investigation, BB rated corporate bonds with relevant denominations issued during the RIP were used to determine the following benchmarks [42]:
Komisija je uporabila pristojbine za kreditno linijo, ki jo je enemu od vzorčenih proizvajalcev izvoznikov zagotovila tuja poslovna banka v prvotni preiskavi [44].
Currency
Takšna kreditna linija ni obstajala za nobeno od treh vzorčenih družb v sedanji preiskavi.
Benchmark (%)
Ker so pristojbine izračunane kot odstotek transakcijskih vrednosti, ni bilo potrebe po posodobitvi referenčne vrednosti, uporabljene v prvotni preiskavi.
Following disclosure, the GOC objected to the addition of a mark-up to determine the benchmark for RMB loans on the basis that there was no factual basis for the Commission to consider the sampled companies should be given ‘BB’ rating in consideration of their performance and profitability data and implied that such situation applied to the whole sector.
Poleg tega v sedanji preiskavi ni bilo predlagano nobeno drugo merilo.
It also objected to the methodology used for the establishment of the benchmark for EUR and USD denominated loans on the grounds that the PBOC did not set floor lending rates for loans in such currencies and banks are free to provide them at any rate.
Iz istih razlogov in kot je določeno v uvodnih izjavah 230 do 235 zgoraj, subvencije v obliki nesorazmernih kreditnih linij niso splošno razpoložljive in so zato specifične v smislu člena 4(2)(a) osnovne uredbe.
It also referred to one cooperating producer for which the calculated benchmark was below the rate at which all loans were granted.
Po razkritju se je en proizvajalec izvoznik pritožil nad dejstvom, da je Komisija na svoj seznam kreditnih linij vključila sporazum o sodelovanju med banko in družbo.
As far as the mark-up and the credit rating used, the Commission did not receive any guidelines from the banks which it uses to credit rate companies.
Komisija meni, da je vključitev takega sporazuma upravičena, saj ima enake značilnosti kot dogovori, opisani v uvodnih izjavah 434 do 438 prvotne uredbe.
Further, the few documents shown by the companies themselves were not reliable for the purposes of assessing their credit worthiness.
Če takšnega sporazuma ne bi bilo, bi bil ta izvoznik po mnenju trgov očitno v slabšem položaju.
In particular, one company submitted a credit rating related to one of its numerous companies not active in the PV sector.
Zato ta sporazum lahko pomeni prenos sredstev ali zagotavljanje finančnih storitev.
Another company submitted a document that was not issued by a bank but by a paid credit rate agency.
Takšno pomembno „jamstvo“ bi imelo na trgu določeno vrednost in bi prejemniku omogočilo „boljši položaj“, kot bi ga imel brez sporazuma.
A third document had already be dismissed during the original investigation with no additional elements added to the file.
Enako kot v prvotni preiskavi, ko so bili za sporazum z isto banko v enakem znesku uvedeni izravnalni ukrepi, Komisija navaja, da se za tak sporazum lahko uvedejo izravnalni ukrepi.
As far as loans denominated in EUR and USD are concerned, reference is made to recital 237 where distortions in the market are listed.
Preiskava je pokazala, da so vse skupine vzorčenih proizvajalcev izvoznikov v OPP uživale ugodnosti kreditnih linij, zagotovljenih brezplačno ali po obrestnih merah, ugodnejših od tržnih.
Such distortions justify the use of an external benchmark also for such loans.
Zato je treba zagotavljanje takih kreditnih linij za fotonapetostno industrijo obravnavati kot subvencijo.
As far as the cooperating producer referred to by the GOC is concerned, this claim was not supported by the information on file.
Izračun zneska subvencije
An exporting producer commented that PBOC rate is the proper benchmark to check whether loans are provided under preferential terms.
Zagotavljanje kreditnih linij brezplačno ali po pristojbinah, ugodnejših od tržnih, se šteje za zagotavljanje finančnih storitev (člen 3(1)(a)(iii) osnovne uredbe) za manj kot ustrezno nadomestilo.
However, the PBOC rate relates, inter alia, to interbank lending.
Znesek subvencije, proti kateri se lahko uvedejo izravnalni ukrepi, se izračuna glede na ugodnosti za prejemnike, ki so bile ugotovljene v OPP.