May 25, 2019 | 04:30 AM


23.05.2013China Solar Talks With Europe Go Dark

Europe is China?s leading solar panel market.

Kenneth Rapoza, Forbes.com

The Chinese solar panel industry isn’t having any luck with the European Union, which has slapped high tariffs on Chinese made photovoltaics.

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China and the E.U. agreed to discuss alleged dumping by China into Europe, undercutting local solar panel producers. The talks were held between representatives of the Chinese solar sector, Wang Guiqing, deputy head of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, said in Beijing. At the E.U.’s invitation, the chamber sent a team to discuss a new pricing plan, but the talks went nowhere, Shanghai Daily reported on Thursday.

A price undertaking basically means exporters raise the export price of a product to avoid the possibility of an anti-dumping duty.  The new import duties have not yet been implemented. Some European companies have lobbied their governments in favor of Chinese parts, saying the European makers were too costly.

Europe is China’s leading solar panel market. It’s made China the world’s leading manufacturer of photovoltaic panels, turning the sun’s rays into electric power.  Since 2011, European countries have been cutting back on spending, including on so-called green technologies. Government subsidies and mandates to use non-fossil fuels drove much of the market for Chinese solar makers, and all of the market for some firms.  In fact, Suntech Power Holdings went bankrupt as a result of problems with European customers.

Suntech defaulted on a $541 million bond in March. Last week, Suntech Power said it reached a pact with some foreign creditors to further defer its obligations on the bond. Suntech shares closed a whopping 20.31% lower on Wednesday, but that’s after rising more than 67% in the last five trading days.

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