China to further standardize support measures to iron & steel companies
2018-08-22 16:39:58 [Print]
In order to strengthen and develop supply-side structural reform achievements and establish a long-term mechanism for continuous and healthy development of iron & steel industry, Ministry of Commerce decided with other eight sectors to further standardize support measures for iron & steel companies as follows:
I. All relevant policies should be formulated on a fair, open and transparent basis by strictly carrying out the system of fair competition in order to treat all market entities equally.
II. Required by the central government on supply-side structural reform and green industry development, measures in favor of illegal new capacities and those blocking capacities that fail to meet standards of environmental protection, energy consumption, quality, safety and technology and clear-out of zombie enterprises are forbidden.
III. Support policies encouraging innovation, R&D and technological progress of iron & steel industry should accept stricter inspection and assessment on achievements to ensure the funds is used exclusively for its intended purposes.
IV. According to notice on further strengthening trade policy compliance by general office of the State Council, trade policy compliance should be attached more importance without providing export subsidies and import substitution subsidies forbidden by WTO to ensure trade policies could conform to WTO rules.
I. All relevant policies should be formulated on a fair, open and transparent basis by strictly carrying out the system of fair competition in order to treat all market entities equally.
II. Required by the central government on supply-side structural reform and green industry development, measures in favor of illegal new capacities and those blocking capacities that fail to meet standards of environmental protection, energy consumption, quality, safety and technology and clear-out of zombie enterprises are forbidden.
III. Support policies encouraging innovation, R&D and technological progress of iron & steel industry should accept stricter inspection and assessment on achievements to ensure the funds is used exclusively for its intended purposes.
IV. According to notice on further strengthening trade policy compliance by general office of the State Council, trade policy compliance should be attached more importance without providing export subsidies and import substitution subsidies forbidden by WTO to ensure trade policies could conform to WTO rules.
