Overview
- The OECD released an aggregated, anonymised analysis drawn from its MAGIC database that compiles financial data on 525 large firms across 15 strategic sectors.
- The report shows public support for industry reached about $108 billion in 2024, the highest level since 2008, driven largely by subsidies, tax breaks, and very favourable state loans.
- Across 2005–2024 the OECD found Chinese firms received on average three to eight times more public support than firms based in OECD countries.
- The organisation estimates that nearly 60% of Chinese firms’ global market‑share gains in the studied period can be explained by the public support they received.
- The OECD warns unilateral subsidy responses risk a self‑defeating subsidy race and calls for multilateral negotiating measures to correct overcapacity, lower prices, and protect non‑Chinese competitors and local jobs.