China hails benefits of EU solar panel deal
Print Edition
China yesterday said the recent deal with the European Union on solar panel exports could help domestic companies maintain a “reasonable market share” in Europe and benefit both sides.
The European Commission, the EU executive arm, last week approved a settlement with Chinese solar firms that sets a price floor and volume limit on their products by the end of 2015.
The agreement, which came after intensive negotiations between China and the EU, was worked out to avoid a broader showdown between the two main trade partners. Participating Chinese exporters will be spared EU anti-dumping duties averaging nearly 48 percent.
China “welcomes the European Commission’s endorsement” on the settlement, Ministry of Commerce spokesman Shen Danyang said. “The properly addressed case will help Chinese photovoltaic companies continue to maintain a reasonable market share in Europe while also meet the need of European users.”
After concluding that solar panels from China were being sold below cost in Europe, the European Commission in early June imposed an initial duty of 11.8 percent on Chinese products for two months to protect its own industry, and said rates would rise to 47.6 percent on average on August 6 if a solution couldn’t be reached.
The deal fixes a price floor of 56 euro cents (74.47 US cents) a watt for as much as 7 gigawatts of solar modules or panels, and also cells and wafers used in them, industry officials said.
The price floor was a compromise between the 50 euro cents China first proposed and the 65 cents the EU suggested, said Yuan Quan, marketing manager of Jiangsu Province-based Phono Solar.
“The minimum price is about 10-15 percent above the level at which Chinese companies were selling to Europe, and is close to European local production costs,” Yuan said, adding the market share of Chinese companies in Europe’s solar panel market may drop to 60 percent following the price accord.
China sold about 12GW to the EU last year, accounting for 80 percent of that market.
As to how the anti-dumping duty-free export quota will be allocated among Chinese firms, Shen said it will be left to the China Chamber of Commerce Import and Export of Machinery and Electronic Products, which led the negotiations on behalf of 94 Chinese producers.
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