China welcomes EU's end of trade controls on Chinese solar panels

World
Europe

00:32

China welcomes the European Union's decision to halt anti-dumping and anti-subsidy measures against China-made solar panels, the Chinese Ministry of Commerce (MOFCOM) said in a statement on Saturday.

The European Commission, which coordinates EU trade policy, announced on Friday that it would end restrictions on the sale of solar panels from China starting from September 3, which will put an end to the solar panel trade dispute between the two sides.

The bloc first imposed those measures for Chinese solar panels, wafers and cells in 2013 and extended them by 18 months in March last year, signaling that they should then end.

Chinese manufacturers have been allowed to sell solar products in Europe free of duties if they do so at or above a progressively declining minimum price. If sold for less than that price, they are subject to duties of up to 64.9 percent.

The Commission said it was in the best interests of the EU as a whole for the measures to lapse, given the bloc’s aim of increasing its supply of renewable energy. The measures had also decreased over time, allowing import prices to align with world market prices, it said.

MOFCOM said the resolution of the dispute, an outcome of joint efforts of the governments and industries of both sides, is a model for successfully solving trade frictions through consultation.

It will restore the China-EU PV trade back to normal and provide a more stable and predictable business environment for cooperation, and will truly realize mutual benefit for both sides, the statement said.

(With input from Reuters)