DOU 02/12/2025 - Diário Oficial da União - Brasil

                            Documento assinado digitalmente conforme MP nº 2.200-2 de 24/08/2001,
que institui a Infraestrutura de Chaves Públicas Brasileira - ICP-Brasil.
Este documento pode ser verificado no endereço eletrônico
http://www.in.gov.br/autenticidade.html, pelo código 05152025120200012
12
Nº 229, terça-feira, 2 de dezembro de 2025
ISSN 1677-7042
Seção 1
gradually. Even more entrenched is the system of implicit state guarantees covering
financial institutions and corporates (particularly state-owned), giving an easier access to
credit to entities perceived to be backed by the government. Why have these distortions
survived for that long, even as the rest of the economy has been undergoing a transition
to a market-oriented system? They have been an integral part of the China's growth
story. Low, administratively controlled interest rates have worked in tandem with
distortions artificially boosting saving rates. Both reduced the cost of capital to support
what has long been the highest investment rate in the world. Widespread implicit state
guarantees further supported credit flow and investment, particularly when export
collapsed after the Global Financial Crisis. This mechanism supercharged China's growth
liftoff.
"315. Este documento aponta ainda que as garantias implícitas dadas pelo
Governo da China e o acesso privilegiado ao crédito beneficiaram principalmente, mas
não exclusivamente, as empresas estatais.
Implicit guarantees distort lending decision. With the guarantees, there is
incentive for creditors to lend more (and more cheaply) to those perceived to be
guaranteed, regardless of the viability or project. Indeed, there is evidence that SOEs
have enjoyed better access to finance than their private counterpart.
182. O estudo "Monetary Policy Transmission and Policy Coordination in
China", publicado pelo International Monetary Fund em 2022, concluiu, a respeito do
sistema financeiro chinês, que:
"we find evidence of monetary policy affecting interest rates. Considering the
average response to all monetary policy shocks - both coordinated and uncoordinated
with fiscal policy - we find evidence of significant and persistent passthrough to
interbank interest rates, sovereign yields, and corporate spreads.
While policy coordination can clearly be beneficial in certain circumstances,
monetary policy needs the ability to respond quickly and independently to economic
events. A muted market response to uncoordinated monetary policy weakens the ability
of the monetary authority to use its tools to affect the economy, particularly through
standard interest-rate channels. Our results suggest that continued reforms to strengthen
the interest-rate based framework are needed. First, formulating a clear inflation
objective and granting the PBC operational (instrument) independence. ]tThe PBC should
guide the short-term interbank rate in the clearest manner possible, and let longer-term
rates be market-determined.
183. O estudo apresentado pela ANIP indica que não houve evoluções
significativas nos últimos anos com relação ao sistema financeiro chinês, o que leva o
DECOM a reiterar a conclusão já manifestada na Portaria SECINT nº 505, de 2019.
184. A respeito da mão de obra, foram trazidos elementos que indicam
significativa influência do governo e do PCC no mercado de trabalho. Por exemplo, o Sistema
Hukou e o fato de haver apenas um sindicato, diretamente ligado ao PCC, dificultam a livre
movimentação da mão de obra e a possibilidade de os trabalhadores conseguirem melhores
condições laborais. Este entendimento se coaduna com a conclusão do DECOM, que já
analisou
o tema
de forma
pormenorizada em
investigações/revisões pretéritas, e
aparentemente não houve alteração da situação desde então.
185. No que diz respeito a matérias-primas, observa-se que o setor químico
e siderúrgico tem significativa influência do Governo da China, pois são considerados
setores estratégicos para o governo chinês. Segundo entendimento já consolidado do
DECOM, o envolvimento do governo nos setores mencionados distorce a alocação de
fatores de produção, afetando a produção e preço de produtos diversos, como a
borracha, principal matéria-prima utilizada na produção desses pneus.
186. No mesmo sentido, as utilidades são, em grande medida controladas
pelo governo chinês. Conforme mencionado pela peticionária, a Comissão Nacional de
Desenvolvimento e Reforma (NDRC), ligada ao Conselho de Estado, teria atribuição de
fixar preços para energia elétrica e outros insumos relevantes.
187. Com relação à propriedade da terra na China, esta ainda continuaria
sendo estatal, consoante também já analisado pela autoridade investigadora brasileira
em casos passados. Desse modo, o governo tem condições de direcionar o uso da terra
para melhor adequação e desenvolvimento de suas políticas industriais, influenciando a
alocação desse fato de produção de forma não mercadológica.
188. Em relação ao setor de pneumáticos na China, ressalte-se novamente a
importância dos Planos Quinquenais, bem como de políticas setoriais específicas, como
a referida Tyre Policy, que estabelecem diretrizes para o setor.
189. Segundo o estudo "China Como Não-Economia de Mercado e a Indústria
de Pneumáticos", apresentado pela peticionária, um dos fatores que caracterizam se um
determinado país é (ou não) uma economia de mercado diria respeito ao fato de a
política industrial ser guiada por metas de desenvolvimento vinculadas à promoção de
setores ou empresas.
190. Neste sentido, a Portaria SECINT nº 505, de 2019, apontou que o 13º
Plano Quinquenal (referente aos anos 2016 a 2020) estimulou outros setores que estão
ligados à indústria pneumática, seja a montante (insumos) ou a jusante (automotivos),
por meio do "Belt and Road Initiative"; além de ter direcionado esforços ao setor de
pneumáticos para desenvolver fabricantes maiores e mais competitivos, reafirmando a
importância do setor automotivo para o governo chinês.
191. Da mesma forma, em novembro de 2020, a Associação da Indústria da
Borracha
da China
(CRIA)
publicou o
"Guiding Outline
for
the 14th
Five-Year
Development Plan for the rubber industry", segundo o qual:
"Prevê-se que o país produza 704 milhões de pneus por ano até 2025, incluindo
527 milhões de pneus radiais para passageiros, 148 milhões de pneus radiais para
camiões/autocarros, 29 milhões de pneus para camiões, 20 000 pneus industriais
extragrandes, 12 milhões de pneus agrícolas e 54 000 pneus para aviões. Além disso, espera-
se que a China produza anualmente 120,7 milhões de pneus para motociclos e 420 milhões
de pneus para bicicletas até 2025, para satisfazer a crescente procura de pneus"
192. Ademais, um dos objetivos do Governo da China com o 14º Plano
Quinquenal é alcançar ajustes estruturais, inovações científicas e tecnológicas e
desenvolvimento verde, que coloquem o país como um poderoso ator no setor de
borracha ao final do período do 14º Plano Quinquenal.
193. Em complemento aos investimentos na indústria automobilística,
observam-se esforços do setor de pneumáticos para desenvolver fabricantes maiores e
mais competitivos, como parte de uma estratégia governamental. Neste sentido, as
publicações de David Shaw, um dos redatores do Tire Industry Research, noticiaram os
planos do governo chinês de desenvolver o setor de pneumáticos:
"I am sure we are watching China's government develop a strategic plan to create
larger tire makers, with stronger management and exploiting Western marketing skills and
technologies.aaAs that plan comes to fruition, I think it almost inevitable that history will
repeat itself and international tire makers will gradually find themselves squeezed out of the
Chinese manufacturing space."aa"We continue to note the consolidation of the industry. This
is partly a government initiative. Both local and national governments have identified their
top tire makers and are 'encouraging' those leading companies to take over failing companies
through combinations of sticks and carrots. (¼)
On the one hand, government is directing larger players to take over failing
businesses. They do not want to do this, because the failing companies have bad equipment,
bad working practices and less good products. On the other, there are also carrots in the form
of grants and land concessions to help these emerging groups to build brand new factories.
We believe these sticks and carrots were the subject of the discussions we reported between
senior officials and tire makers over the Summer of 2017.
As we have been predicting for at least two years, the early part of 2018 is
proving to be the beginning of a substantial wave of consolidation across China's tire
industry. This wave is being catalysed by government action in calling in loans and
introducing high charges for power, water and other essentials to companies that do not
meet various government criteria. (¼)"
The long game in China's tire industry is to eliminate the out-dated capacity;
reduce the number of tire makers to well under 100, and ensure those that survive grow
much bigger. Many of those that survive will be State-owned enterprises.
194. A respeito da Tire Industry Policy, observa-se não haver elementos que
indiquem que essa política tenha sido descontinuada, permanecendo em vigor desde
2010 sem alterações significativas. Importa destacar que se trata de uma política
industrial voltada
para os
produtores de
pneus, cujo
objetivo é
alavancar o
desenvolvimento da indústria petroquímica e renovação da política industrial e criar uma
vantagem competitiva da indústria, incentivando inclusive o desenvolvimento dos
insumos produtivos (borracha sintética, borracha natural, negro de carbono e reforço
metálico). Essa política prevê expressamente a possibilidade de o setor de pneumáticos
beneficiar-se de preferências tributárias para desenvolver novas tecnologias, produtos e
técnicas com o intuito de reforçar seu parque industrial.
195. Além de o DECOM já ter indicado que esta política tem como objetivo
o desenvolvimento do setor de pneumáticos na China, cabe apontar que essa política
também foi considerada pelos EUA como um meio de estimular a indústria de
pneumáticos e o desenvolvimento de todas as principais matérias-primas do setor no
caso de subsídios que abrange pneus de automóvel originários da China (USDOC C-570-
041: Certain Passenger Vehicle and Light Truck Tires from the People´s Republic of
China).
196. Consoante já exaustivamente analisado pelo DECOM em decisões
pretéritas, a política industrial Tire Industry Policy é composta por 10 capítulos com 57
artigos. No capítulo 1, que trata do objetivo, são apresentados os seguintes artigos:
"Article 1 According to the needs of economic and social development, in
accordance with the overall objectives of the development plan and petrochemical
industry, through
mergers and acquisitions,
layout optimization,
overall control,
elimination of the outdated, technological innovation, energy conservation and other
measures to actively promote the structural adjustment of tire industry and make it
stronger.
Article 2 Adhere to the market-oriented, encourage backbone enterprises
with comparative advantage, through the powerful combination, brand share, sales
integration, etc., merger and reorganize the enterprises in difficulty and backward
enterprises, and promote resources to the advantage of companies, promote the
development of enterprise groups, improve industrial concentration, optimize the
organizational structure; Guide the cluster development, optimize the layout structure;
accelerate the elimination of backward production capacity, promote the product
structure adjustment and upgrading.
Article 3 Encourage tire manufacturers to improve R & D capabilities, increase
investment in research, carry out technical innovation, implement brand strategy,
improve product technology and their core competitiveness.
Article 4 Regulate the conduct of all types of economic entities in tire
production, distribution, consumption, etc., create a fair, unified market environment,
establish the tire recall system and improve the standard of services.
Article 5 Develop recycling economy, improve the level of energy saving,
pollution reduction and resource utilization; establish and improve the management of
waste tire recycling system, and promote the coordinated development of production of
new tires, tires refurbishment and recycling of waste tires."
197. Em relação ao capítulo 3, que trata de Política Tecnológica, cabe
ressaltar os seguintes artigos:
"Article 9 Insist on the combination of introduction of technology and innovation,
track and develop cutting-edge technologies, encourage the adoption of original innovation,
integrated innovation and the introduction of absorption and innovation to develop advanced
and applicable technologies with proprietary, and promote the industrialization of innovative
technologies.
Article 10 Guide and encourage tire manufacturers to strengthen technical
center construction enhance the capability of independent innovation and new product
development capabilities using technology integration and engineering applications of
new technology development and encourage "research and use" jointly development and
commissioned development. In accordance with the provisions of the tax laws and
regulations, the cost of developing new technologies, new products and new techniques
can enjoy preferential tax policies.
[¼]
Article 14 Vigorously promote energy conservation and comprehensive utilization
of resources. Guide and encourage tire manufacturers to combine informatization and
industrialization and carry out technology transformation whose focus is variety increase,
quality improvement, energy saving, pollution reduction and safety production.
Develop recyclable rubber, environmentally-friendly additives and other raw
materials, and develop waste tires recycling technology; perfect and promote low-
temperature rubber mixing and nitrogen vulcanization process; enhance the governance
of banburying dust, rubber sulfide fumes, and promote clean production technology;
simplify and unwrap the tire gradually.
Article 15 Encourage tire companies to promote bar code technology, radio
frequency identification and other information technology products and their application
in the tire manufacturing process, construct information integration systems covering all
aspects of enterprise production and management, innovate information management
and service model of tire products".
198. Em relação ao capítulo 4, que trata de Construção de Condição
Complementar, cabe ressaltar os seguintes artigos:
"Article 16 Encouraging tire enterprises to participate in the business of
natural rubber planting and processing, optimizing the pretreating of natural rubber,
improving process technology, products quality and logistics service level; leading the
enterprises to "go out" and establishing natural rubber planting and processing bases at
overseas.
Article 17 Speeding up the Development of isoprene rubber, halogenated
butyl rubber and other varieties of rubber, increasing the variety brands of butadiene
rubber, styrene butadiene rubber and other synthetic rubber, promoting the usage
proportion and development and production capacity of synthetic rubber gradually.
Article 18 Actively encouraging the development and usage of new structure
steel cord, high modulus and low shrinkage polyester cord fabric, high tenacity nylon
cord fabric and other tire skeleton materials, accelerating the industrialization and
application development of aramid fiber.
Article 19 Encouraging the development of environmental rubber auxiliaries,
special carbon black, white carbon black and other raw materials.
Article 20 Encouraging the research and development of large and new type mixer
unit, tread compound extrusion unit, wire rolling machine, cutting machine, steel wire tire
cord radial tire molding machinery and tires semi-finished products, non-destructive testing of
products, online testing inspection equipment and other key equipment of radial tire,
promoting the production equipment and monitoring and control level".
199. Em relação ao capítulo 5, que trata da Admissão da Indústria, cabe
ressaltar os seguintes artigos:
"Article 23 For the construction, reconstruction and extension of truck radial
tire project, the production capacity formed by one time shall achieve annual output of
more than 1.2 million; for the construction, reconstruction and extension of light truck
radial tires and car radial tire project, the production capacity formed by one time shall
achieve annual output of more than 6 million; for the construction, reconstruction and
extension of hybrid project of truck radial tire, light truck radial tire and car radial tire,
the production capacity of single variety shall also achieve the above requirement.
Article 25 As for the construction, reconstruction and extension of the tire
project, the comprehensive energy consumption shall be lower than 950 kilograms of
standard coal/ton three types of rubber (Note: three types of rubber means natural
rubber, synthetic rubber and reclaimed rubber).
Article 26 As for the construction, reconstruction and extension of the tire
project, the environmental protection measures shall reach the requirements of
"Environmental protection design specifications of rubber factory" GB50469, and the
production water cycle utilization rate of the enterprises shall be above 90%".
200. O mesmo capítulo 5 estabelece critérios para usufruto de suas medidas
e metas para as empresas:
"Article 21 The construction, reconstruction and extension of tire production
and tire retreading enterprises shall comply with the national tire industry development
planning and the overall industrial development planning of province, autonomous region
or municipality; and shall comply with the environmental protection planning or pollution
control planning regulated by the national and provincial governments.
Article 23 For the construction, reconstruction and extension of truck radial
tire project, the production capacity formed by one time shall achieve annual output of
more than 1.2 million; for the construction, reconstruction and extension of light truck