natgillin/translations-raw huggingface dataset:
As far as the Bank law is concerned, Articles 4, 5 and 7 belong to ‘Chapter I General provisions’ while Articles 34 and 35 belong to ‘Chapter IV Basic Rules for Loans and Other Business Operations’.
Jeklarska industrija se šteje za glavni cilj za zagotavljanje posojil, povezanih z okoljskimi projekti.
Article 4 states that ‘The business operations of commercial banks shall be governed by the principles of safety, liquidity and efficiency.
Industrijska politika v tem okviru je pojasnjena v „Mnenjih o krepitvi varčevanja z energijo in zmanjšanja emisij ter pospešitvi strukturnega prilagajanja v železarski in jeklarski industriji“.
Commercial banks shall make their own decisions regarding their business operations, take responsibility for their own risks, assume sole responsibility for their profits and losses and exercise self-restriction.
Kitajska vlada je v pripombah v zvezi z razkritjem navedla, da smernice o zelenih kreditih in Mnenja o krepitvi varčevanja z energijo in zmanjšanja emisij ter pospešitvi strukturnega prilagajanja v železarski in jeklarski industriji ravno tako ne dokazujejo obstoja zavezujočega normativnega okvira za posojila.
Commercial banks shall, pursuant to law, conduct business operations without interference from any unit or individual.
Kitajska vlada se je zlasti sklicevala na člen 15 smernic o zelenih kreditih, ki bančnim institucijam nalaga, „da okrepijo zahteve glede skrbnega pregleda pri odobravanju posojil“.
Commercial banks shall independently assume civil liability with their entire legal person property’.
Ugotovitve te preiskave niso podpirale trditve, da člen 15 smernic o zelenih kreditih finančnim institucijam preprečuje, da pri odobravanju posojil sledijo industrijski politiki in načrtom vlade.
Article 7 of the Bank law relates to the examination of the creditworthiness of the borrower.
Podpirajo prav nasprotno, kakor je jasno navedeno v uvodnih izjavah od (121) do (128) spodaj.
The investigation showed that Articles 4 and 7 of the Bank law are applied subject to Article 34 of the Bank law, i.e. where the State establishes a public policy the banks implement it and follow State instructions.
Zakon o bankah je pravno zavezujoč.
The findings of this investigation did not support the claim that banks do not take government policy and plans into account while making lending decisions.
Obvezna narava petletnih načrtov je bila ugotovljena v uvodni izjavi (55).
It rather confirmed the contrary, as has been clearly described in recitals (121) to (128) below.
Obvezna narava sklepa št. 40 je bila ugotovljena v uvodni izjavi (55).
Therefore, the Commission found that Article 4 of the Bank law did not prevent commercial banks from taking government industrial policy and plans into account.
Obvezna narava drugih regulativnih dokumentov je razvidna iz klavzul o nadzoru in vrednotenju, ki jih vsebujejo.
The GOC also referred to Article 5 of the Bank law, deriving from it that there would be ‘no interference by local governments and government departments at various levels, public organizations or individuals in the business operations of the banks.’
V obvestilu „Več mnenj o odpravi presežne zmogljivosti“ je navedeno, da „[…] komisija bančnih regulatorjev Kitajske, komisija za nacionalni razvoj in reforme ter ministrstvo za industrijo in informacijsko tehnologijo pravočasno organizirajo inšpekcijski pregled in nadzor izvajanja tega obvestila“.
However, the actual text of Article 5 of the Bank law reads as follows: ‘Commercial banks shall adhere to the principles of equality, voluntariness, fairness and good faith in business dealings with their clients’.
Komisija na tej podlagi ugotavlja, da je kitajska vlada vzpostavila normativni okvir, ki ga morajo upoštevati vodstveni delavci in nadzorniki, ki jih imenuje kitajska vlada in ki tej tudi odgovarjajo.
For the Commission, this formulation does not shield banks from their duty to apply public policy considerations as set out in Article 34 of the Bank law.
Kitajska vlada se je torej pri izvajanju smiselnega nadzora nad ravnanjem petih sodelujočih bank v državni lasti, kadar so te zagotavljale posojila jeklarski industriji, opirala na normativni okvir.
As set out in recitals (121) to (128) below, in view of the behaviour of the banks when providing loans to the sampled companies, this Article can therefore not be considered to contradict the interpretation of Article 34 established by the Commission.
Komisija je želela pridobiti tudi oprijemljive dokaze o izvajanju smiselnega nadzora na podlagi konkretnih posojil.
The industrial policy of the State is established through central planning, as explained in section 3.1 above.
Pet sodelujočih bank v državni lasti je med preverjanjem opozorilo na člena 4 in 5 zakona o bankah, v skladu s katerima morajo izvesti neodvisno oceno zahtevka za posojilo.
With regards to the steel industry, chapter 5 of the 12th Five Year Steel Plan specifically provides for strengthening the connection between financial policies and the steel industrial policy.
Pet sodelujočih bank v državni lasti je predložitev informacij, vključno z njihovimi posebnimi ocenami kreditnega tveganja, povezanimi z vzorčenimi družbami, iz regulativnih in pogodbenih razlogov zavrnilo.
Furthermore, Chapter 5 of the 13th Five Year Steel Plan issues ‘guidance to financial institutions and private capital to support the priority tasks of the Plan’, and provides that ‘As regards enterprises having a market and being profitable, banks shall keep the demand for credit reasonable’.
V zvezi s slednjimi so poudarile, da bi kršile pogodbo, če bi informacije predložile brez soglasja posojilojemalca.
Similarly, Decision No. 40 instructs all financial institutions to provide credit support specifically to ‘encouraged’ projects.
Vse štiri skupine vzorčenih proizvajalcev izvoznikov so zavrnile podpis pisma o soglasju, s katerim bi omogočile pregled svojih finančnih podatkov v prostorih banke.
As already explained in section 3.1, projects of the steel industry belong to the ‘encouraged’ category.
Ker ni bilo oprijemljivih dokazov o ocenah kreditne sposobnosti, je Komisija proučila splošno pravno okolje, kakor je bilo opisano v uvodnih izjavah od (100) do (120), ter ravnanje petih sodelujočih bank v državni lasti v zvezi s posojili, ki so jih zagotovile vzorčenim družbam.
Following disclosure, the GOC indicated that the Commission did not explain how Decision No. 40 demonstrates that banks are required to undertake any preferential credit operations, and referred to Articles 17 and 18 of this Decision.
To ravnanje je bilo v nasprotju z njihovim uradnim stališčem, saj niso ravnale, kot bi finančne institucije običajno ravnale na podlagi temeljite ocene tveganja, ki temelji na trgu.
The Commission noted that the Decision incorporates the GOC's will to actively support the development of the steel industry.
Med preveritvenimi obiski je bilo, z izjemo nekaterih posojil v tuji valuti in enega posojila enemu vzorčenemu proizvajalcu izvozniku, ugotovljeno, da so se posojila štirim skupinam vzorčenih proizvajalcev izvoznikov zagotavljala po obrestnih merah, podobnih referenčni obrestni meri Ljudske banke Kitajske [18], ne glede na njihov finančni položaj in profil tveganja.
While Articles 17 and 18 of the same Decision also ask the bank to respect credit principles the Commission could not establish during the investigation that this was done in practice.
V primerih skupin Shougang Group in Benxi Group so bili razporedi plačil prestrukturirani ali pa je bil dolg odpisan zaradi finančnih težav, Komisija pa je odkrila tudi en poseben primer posredovanja kitajske vlade, zaradi katerega je bil dolg prestrukturiran kljub drugačni finančni presoji finančnih institucij [19].
Decision No. 40 hence confirms the previous finding with respect to the Bank law that banks exercise governmental authority in the form of preferential credit operations.
Komisija je ugotovila tudi, da posojila, o katerih bi banke morale poročati kot o neobičajnih posojilih, pet sodelujočih bank v državni lasti v nacionalnem centralnem registru kreditov ni označilo za take.
Furthermore, the Guidelines of the People's Bank of China, CBRC, CSRC, and CIRC, as well as the notice ‘Several Opinions on Resolving Overcapacity’, are specifically targeted at companies in the steel sector.
Obveznost poročanja velja zlasti, kadar so bila posojila prestrukturirana, dolžnik ni plačal ali so bila izdana posojila revolving.
They state that financial institutions must fully recognize the pillar role and strategic importance of steel and coal industries and continue to give credit support to the steel companies which comply with industrial policy and which adjust and regroup themselves without increasing their production capacity.
Taki primeri so bili odkriti pri vseh štirih skupinah vzorčenih proizvajalcev izvoznikov.
This support shall extend to the setting of interest rates and the promotion of bonds and loans for mergers and acquisitions.
V skladu s smernicami komisije bančnih regulatorjev Kitajske o razvrščanju posojil na podlagi tveganja bi morali biti vsi ti primeri vključeni v centralni register kreditov.
Furthermore, debt restructuring and debt forgiveness is promoted.
Zaradi pomanjkljivega poročanja finančnih institucij je slika kreditnega položaja družbe v centralnem registru kreditov izkrivljena, saj iz registra ni razvidna dejanska kreditna sposobnost družbe.
Following disclosure, the GOC stated that the Commission failed to mention any specific provisions in the above-mentioned documents which support its conclusions.
Zato bi finančna institucija, če bi izvedla oceno tveganja, ki temelji na trgu, to storila na podlagi netočnih informacij.
The Commission highlighted that it had based its statements in the previous recital inter alia on the following passages of the notice ‘Several Opinions on Resolving Overcapacity’:
Po razkritju je kitajska vlada trdila, da dejstvo, da nekatera posojila niso bila sporočena v centralni register kreditov, dokazuje, da zakonodajni okvir za posojila ni zavezujoč.
‘Banking financial institutions are encouraged to reorganize the loans disbursed to iron and steel enterprises and coal enterprises that are in difficult conditions but take the initiative to reduce capacity.’
Komisija je menila, da informacije v zvezi z oceno kreditnega tveganja, ki so jih vsebovala letna poročila, niso prinesle nobenih novih elementov, ki bi podprli trditve kitajske vlade.
‘As regards iron and steel enterprises and coal enterprises with marketable products or services and promising development potentials that are in line with national industrial policies and take the initiative to reduce capacity, adjust structures and transform development models, banking financial institutions shall set up creditor committees, adjust the maturity, interest rates and repayment methods of loans and take other measures.’
V vsakem primeru so ti abstraktni in ne dopuščajo ocene posameznih primerov, prav tako pa tudi ne predstavljajo dokaza, da taka ocena dejansko poteka.
As far as the Guidelines of the People's Bank of China, CBRC, CSRC, and CIRC are concerned, the following passages are inter alia relevant:
Poleg tega primeri, ki jih je kitajska vlada navedla za Kitajsko izvozno-uvozno banko in Konstrukcijsko banko Kitajske, ne dokazujejo nič drugega kot zgolj zmanjšanje deleža posojil za jeklarsko industrijo.
‘Banking financial institutions should fully recognize the pillar role and strategic position of steel and coal industries, accurately grasp the law of their development, continue to give credit support, in accordance with the principles of risk controllability and business sustainability, to high-quality backbone enterprises, which have advanced technology and equipment, competitive products, markets, and may restore their competitiveness and get rid of temporary difficulties after deepening reform and strengthening internal management; actively offer comprehensive financial services to the enterprise which adjusts and regroups itself but doesn't increase its production capacity.’
Te navedbe niso vsebovale nobenih informacij o pogojih, pod katerimi so se posojila dodeljevala.
Expand the issuance of green financial bonds, green asset securitization and other innovative financial instruments to guide the green development of the steel and coal industries.’
Tudi če je Kitajska komercialna banka zvišala svoje standarde za dostop do posojil, je iz citata hkrati razvidno, da je banka „podprla svoje kakovostne stranke“.
‘Actively and steadily promote debt restructuring at the enterprise.
Zato Komisija ni videla razloga, da bi spremenila svoje ugotovitve in je sklenila, da je kitajska vlada izvajala bistven nadzor nad ravnanjem petih sodelujočih bank v državni lasti v zvezi z njihovimi posojilnimi politikami in oceno tveganja, kadar so dodeljevala posojila jeklarski industriji.
For the enterprise which comply with national industrial policies, and actively take the initiative to reduce production capacity, adjust structure and transform for development, and has certain solvency, under the premise of loan quality monitoring and precise classification, help them weather the storm by adjusting the loan period, ways of repayment, and other debt restructuring measures.’
Sklep o sodelujočih finančnih institucijah
‘Improve the M & A loan business, and expand the scale of M & A loans, reasonably determine the loan term and interest rate, so as to support enterprises and regions with comparative advantage to integrate the industrial capacity’.
Komisija je ugotovila, da pet sodelujočih finančnih institucij v državni lasti izvaja navedeni pravni okvir, ko izvajajo vladne funkcije v zvezi z jeklarsko industrijo, zato delujejo kot javni organi v smislu člena 2(b) osnovne uredbe v povezavi s členom 3(1)(a)(i) osnovne uredbe in v skladu z ustrezno sodno prakso STO.
The Green Credit Guidelines encourage financial institutions to use different credit extension and risk management policies in accordance with industry policies and depending on the environmental status of the borrower.
Po razkritju je kitajska vlada trdila, da Komisija ni izpolnjevala dokaznih standardov za določanje, ali so banke v državni lasti javni organi, saj njeni sklepi domnevno temeljijo le na uradnih indicih nadzora, kot je lastništvo kitajske vlade ali pristojnost za imenovanje vodstvenih uradnikov.
The steel industry is seen as a primary target for the provision of loans related to environmental projects.
Komisija je to trditev zavrnila kot neutemeljeno, saj je v uvodnih izjavah od (100) do (128) zelo podrobno proučila tudi smiselnost izvajanja nadzora.
The industry policy in this context is explained in the ‘Opinions on Strengthening Energy Saving and Emission Reduction and Accelerating Structural Adjustment in the Iron and Steel Sector’.
Nesodelujoče banke v državni lasti
These Opinions highlight that ‘the iron and steel industry, being the one with the biggest potential in energy conservation and emission reduction, occupies a vital position in the work of energy conservation and emission reduction.
Kot je navedeno v oddelku 3.2, kitajska vlada od nobene druge banke v državni lasti, ki je zagotavljala posojila vzorčenim družbam, ni zahtevala, naj vrne posebni vprašalnik.
To strengthen energy conservation and emission reduction and structural adjustment is an important and major measure in transforming the development model of the iron and steel industry’.
Komisija je zato v skladu z ugotovitvami iz uvodnih izjav od (61) do (75) sklenila, da bo pri ugotavljanju, ali se navedene banke v državni lasti štejejo za javne organe, uporabila najboljša razpoložljiva dejstva.
Projects related to new technologies and techniques of circular economy and energy conservation and emission reduction, such as coke dry quenching under high temperature and pressure, dry dust removal, recovery and utilization of residual heat and pressure of coal gas, and sintering flue gas desulfurization, and the ensuing ‘green’ financing are thus ‘vigorously promoted’.
Komisija je na podlagi javno dostopnih informacij, kot so spletišče banke, letna poročila in informacije iz bančnih imenikov ali z interneta, ugotovila, da je naslednjih 30 bank, ki so štirim vzorčenim skupinam proizvajalcev izvoznikov zagotavljale posojila, delno ali v celoti v lasti države ali pravnih oseb v lasti države: Kitajska razvojna banka, Komunikacijska banka, banka China Everbright, Poštna hranilnica, Kitajska komercialna banka, Razvojna banka Šanghaj Pudong, Kitajska industrijska banka, Podeželska poslovna banka Shenyang, Poslovna banka Benxi City, Poslovna banka Benxi, Kailuan Group Financial Co., Liaoning Hengyi Financing Lease Co., Ltd., Chengdejska banka, Hebeiska banka, Šanghajska banka, Banka Ningbo, Banka China CITIC, Banka China Guangfa, Banka China Bohai, Banka Huaxia, Kitajska banka za vire, Banka China Zheshang, banka China Credit Trust, Huarong International Trust Co.
The GOC submitted in its disclosure comments that the Green Credit Guidelines and the ‘Opinions on Strengthening Energy Saving and Emission Reduction and Accelerating Structural Adjustment in the Iron and Steel Sector’ similarly fail to show the existence of a binding normative framework for lending practices.
Ltd., Northern International Trust Co., Ltd., Banka Zhangjiakou, Hebei Iron and Steel Group Financial Co., Ltd, Shougang Group Finance, Finančni urad mesta Benxi City in Podeželska kreditna zadruga Zunhua.
In particular, the GOC referred to Article 15 of the Green Credit Guidelines, which state that ‘banking institutions shall strengthen due diligence in credit granting’.
Informacije o lastniški strukturi navedenih bank so na voljo v naslednji preglednici:
The findings of this investigation did not support the claim that Article 15 of the Green Credit Guidelines precluded financial institutions from following government industrial policy and plans when granting loans.
Ime banke
It rather confirmed the contrary, as has been clearly described in recitals (121) to (128) below.
Informacije o lastniški strukturi
The Bank law is legally binding.
Kitajska razvojna banka
The mandatory nature of the Five Year Plans has been established above at recital (55).
Strateška banka v 100-odstotni državni lasti
The mandatory nature of Decision No. 40 has been established above at recital (55).
Komunikacijska banka
The mandatory nature of the other regulatory documents is demonstrated by the supervision and evaluation clauses which they contain.
Ministrstvo za finance in družba Central Huijin Investments imata v lasti 26,53-odsotni delež banke.
The notice ‘Several Opinions on Resolving Overcapacity’ states that ‘The CBRC, the National Development and Reform Commission and the Ministry of Industry and Information Technology shall organize inspection and supervision of the implementation hereof in due course.’
Banka China Everbright
Article 28 of the Green Credit Guidelines states that ‘Regulatory authorities in the banking industry shall … evaluate the effect of green credit extended by financial institutions in the banking industry in a comprehensive manner based on the status of off-site regulation and on-site inspection.
Ministrstvo za finance in družba Central Huijin Investments imata v lasti 41,24-odsotni delež banke.
The evaluation results shall be used as the important bases for the regulatory ratings, institution access, business access and performance appraisals of the senior management staff of financial institutions in the banking industry in accordance with the relevant laws and regulations’.
Poštna hranilnica
The Guidelines of the People's Bank of China, CBRC, CSRC, and CIRC on supporting the steel and coal industries to resolve overcapacity and achieve turnaround in development state that financial institutions should strengthen communication with local government departments.
Leta 2007 jo je ustanovil državni poštni urad, ta služba pa je zdaj pod okriljem ministrstva za promet.
On that basis, the Commission concludes that the GOC has created a normative framework that had to be adhered to by the managers and supervisors appointed by the GOC and accountable to the GOC.
Trenutno ima 64-odstotni delež v lasti družba China Post Corp., ki je v celoti v državni lasti.
Therefore, the GOC relied on the normative framework in order to exercise control in a meaningful way over the conduct of the five cooperating state-owned banks whenever those were providing loans to the steel industry.
Kitajska komercialna banka
The Commission also sought concrete proof of the exercise of control in a meaningful way on the basis of concrete loans.
Ta banka je del China Merchants Group, podjetja v državni lasti.
During the verification, the five cooperating state-owned banks pointed to Articles 4 and 5 of the Bank law, according to which they are required to make an independent assessment of a loan request.
Razvojna banka Šanghaj Pudong
They maintained that in practice they had used sophisticated credit risk assessment policies and models when granting the loans at issue.
China Mobile Communication Group Guangdong Limited (podjetje v državni lasti): 20 %
However, no concrete examples were provided.
Shanghai International Group Co., Ltd (finančni holding v državni lasti): 16,93 %
The five cooperating state-owned banks refused to provide information, including their specific credit risk assessments, related to the sampled companies for regulatory and contractual reasons.
Shanghai Sitico Assets Management Co., Ltd. (del finančnega holdinga Shanghai International Group): 5,23 %
With regard to the latter, they pointed out that without the consent of the borrower, they would breach contract by providing the information.
Kitajska industrijska banka
All four groups of sampled exporting producers refused to sign a letter of consent allowing for an examination of their financial data at the bank's premises.
Finančni urad mesta Fujian: 17,86 % (državni organ)
In the absence of concrete evidence of creditworthiness assessments, the Commission therefore examined the overall legal environment as set out above in recitals (100) to (120), in combination with the behaviour of the five cooperating state-owned banks with regard to the loans provided to the sampled companies.
pravne osebe v državni lasti:
This behaviour contrasted with their official stance, as they were not acting like financial institutions would normally do based on a thorough market-based risk assessment.
PICC Property and Casualty Company Limited: 4,98 %
The verification visits revealed that with the sole exception of certain loans in foreign currency and one single loan to one sampled exporting producer, loans were provided to the four groups of sampled exporting producers at interest rates close to the People's Bank of China (‘PBOC’) benchmark interest rates [18], regardless of the companies' financial and credit risk situation.
China National Tobacco Corporation: 3,22 %
Hence, the loans were provided below market rates when compared to the rate corresponding to the risk profile of the four sampled exporting producers.
China Securities Finance Corporation Limited: 2,87 %
In addition, all of the sampled companies had received revolving loans, which allow them to immediately replace the capital repaid on loans at the maturity date by fresh capital from new loans.
PICC Life Insurance Company Limited-universal: 2,49 %
In the cases of the Shougang Group and the Benxi Group, payment schedules were restructured or debt was forgiven because of financial difficulties, and the Commission found one specific example of an intervention by the GOC which led to a debt restructuring against the financial institutions' better financial judgment [19].
Fujian Tobacco Haisheng Investment Management Co., Ltd.: 2,32 %
The Commission also found that loans which should have been reported by the banks as not normal loans had not been indicated as such in the national central credit register by the five cooperating state-owned banks.
Domače pravne osebe, ki niso v državni lasti:
The obligation to report exists in particular when loans had been restructured, when the debtor defaulted on its payments, or when revolving loans had been issued.
Tianan Property Insurance Co., Ltd.: 1,71 %
Such occurrences were found for all four groups of sampled exporting producers.
Podeželska poslovna banka Shenyang