The US Department of Commerce announced the results of a countervailing investigation against Chinese solar photovoltaic products. Among them, the preliminary determination of China's solar photovoltaic products has export subsidies, and will impose a countervailing duty of 5% or less on these products. Although this tax rate is much lower than previously expected, due to the overall downturn in the PV market, the preliminary results of the “double-reverse†investigation from the US Department of Commerce are still worse for China's PV industry.
The preliminary results are better than expected
On October 19, 2011, the US branch of Solar Solar, a German solar company, and six other US PV companies formally submitted an application to the US Department of Commerce to conduct a “double-reverse†investigation on PV products imported from China and requested the United States. More than 100% tariffs are imposed on solar panels imported from China. The US Department of Commerce officially opened the case on November 8 last year. Since then, the US Department of Commerce has postponed the release of the survey results three times.
According to relevant US laws, the US Department of Commerce must give a statement on the results of the investigation by March 20. Previously, China's PV industry was generally worried that the US Department of Commerce would give a very unfavorable survey results for China's PV industry (the outside world is expected to impose a punitive tariff of 20% to 100%). But the US Commerce Department has concluded that China's solar panel and cell manufacturers have accepted 2.9% to 4.73% of export subsidies from the government, and the US Department of Commerce will initially subsidize solar panels imported from China. The tax is set at a maximum of 4.73% and a minimum of 2.90%.
This result is more symbolic than the previous worst-case expected tariff rate of up to 100%. Boosted by this positive news, China's PV stocks listed in the US, Wuxi Suntech, Trina Solar, and Yingli Green Energy all rose more than 10%.
China or launch a counterattack
Although the preliminary results of countervailing are better than expected, for the Chinese PV industry in distress, this result still exerts tremendous pressure on the entire industry.
The preliminary results of the US Department of Commerce triggered unanimous opposition from the domestic PV industry. Yingli Public Relations responded, “We have not dumped our products, and we believe that we have not received any unfair subsidies.†Mr. Miao Liansheng, Chairman and CEO of Yingli Green Energy, said: “In any case, Tariffs will have a negative impact on the photovoltaic industry in China and the United States."
Yan Xiaoying, president of Suzhou Artes Solar Power Technology Co., Ltd. also pointed out that the preliminary results of the US "double-reverse" investigation will make the situation of China's photovoltaic industry even more bleak. “We expect the company’s orders to drop by more than 30% this year.â€
It is reported that Siewei LDK, Jiangsu Zhongneng, Luoyang Zhongsi, Daxin Energy, four major domestic polysilicon manufacturers have jointly submitted more than a dozen SMEs to the Chinese Ministry of Commerce for “double-reverse†investigation applications, exporting to the US and Korea. China's polysilicon raw materials filed anti-dumping and countervailing investigations. However, as of now, the Ministry of Commerce of China has not accepted the above application.
Germany’s “double-reverse†investigation threatens even more
Although the US “double-reverse†investigation will have an impact on China's PV industry exports, for the domestic PV industry, Germany's “double-reverse†investigation of China's PV industry is a bigger threat.
According to German media reports, the German Solar Energy Joint Conference filed a joint complaint at the end of March, accusing China of cheap dumping of photovoltaic products. At present, the German Solar Energy Economic Association is contacting relevant EU industries and is preparing to file anti-dumping applications against Chinese PV products in 27 EU member states.
Li Qiuyi, the public relations director of Zhongsheng Optoelectronics, said in a telephone interview with the reporter that Chinese companies are more concerned about the "double opposition" in Europe than the US investigation. “Because the domestic PV companies have a much larger market share in Europe than in the US, and the recent changes in German policies are more frequent, it is worthy of attention. The European and American double countervailing anti-dumping duties have brought unprecedented shocks to domestic PV companies.â€
The preliminary results are better than expected
On October 19, 2011, the US branch of Solar Solar, a German solar company, and six other US PV companies formally submitted an application to the US Department of Commerce to conduct a “double-reverse†investigation on PV products imported from China and requested the United States. More than 100% tariffs are imposed on solar panels imported from China. The US Department of Commerce officially opened the case on November 8 last year. Since then, the US Department of Commerce has postponed the release of the survey results three times.
According to relevant US laws, the US Department of Commerce must give a statement on the results of the investigation by March 20. Previously, China's PV industry was generally worried that the US Department of Commerce would give a very unfavorable survey results for China's PV industry (the outside world is expected to impose a punitive tariff of 20% to 100%). But the US Commerce Department has concluded that China's solar panel and cell manufacturers have accepted 2.9% to 4.73% of export subsidies from the government, and the US Department of Commerce will initially subsidize solar panels imported from China. The tax is set at a maximum of 4.73% and a minimum of 2.90%.
This result is more symbolic than the previous worst-case expected tariff rate of up to 100%. Boosted by this positive news, China's PV stocks listed in the US, Wuxi Suntech, Trina Solar, and Yingli Green Energy all rose more than 10%.
China or launch a counterattack
Although the preliminary results of countervailing are better than expected, for the Chinese PV industry in distress, this result still exerts tremendous pressure on the entire industry.
The preliminary results of the US Department of Commerce triggered unanimous opposition from the domestic PV industry. Yingli Public Relations responded, “We have not dumped our products, and we believe that we have not received any unfair subsidies.†Mr. Miao Liansheng, Chairman and CEO of Yingli Green Energy, said: “In any case, Tariffs will have a negative impact on the photovoltaic industry in China and the United States."
Yan Xiaoying, president of Suzhou Artes Solar Power Technology Co., Ltd. also pointed out that the preliminary results of the US "double-reverse" investigation will make the situation of China's photovoltaic industry even more bleak. “We expect the company’s orders to drop by more than 30% this year.â€
It is reported that Siewei LDK, Jiangsu Zhongneng, Luoyang Zhongsi, Daxin Energy, four major domestic polysilicon manufacturers have jointly submitted more than a dozen SMEs to the Chinese Ministry of Commerce for “double-reverse†investigation applications, exporting to the US and Korea. China's polysilicon raw materials filed anti-dumping and countervailing investigations. However, as of now, the Ministry of Commerce of China has not accepted the above application.
Germany’s “double-reverse†investigation threatens even more
Although the US “double-reverse†investigation will have an impact on China's PV industry exports, for the domestic PV industry, Germany's “double-reverse†investigation of China's PV industry is a bigger threat.
According to German media reports, the German Solar Energy Joint Conference filed a joint complaint at the end of March, accusing China of cheap dumping of photovoltaic products. At present, the German Solar Energy Economic Association is contacting relevant EU industries and is preparing to file anti-dumping applications against Chinese PV products in 27 EU member states.
Li Qiuyi, the public relations director of Zhongsheng Optoelectronics, said in a telephone interview with the reporter that Chinese companies are more concerned about the "double opposition" in Europe than the US investigation. “Because the domestic PV companies have a much larger market share in Europe than in the US, and the recent changes in German policies are more frequent, it is worthy of attention. The European and American double countervailing anti-dumping duties have brought unprecedented shocks to domestic PV companies.â€
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