For a long time, the photovoltaic industry has been the “hardest hit†of trade friction between China and Europe and the United States, but after the twists and turns, it finally ushered in a major positive – August 31, the European Commission (hereinafter referred to as the European Commission) announced that the EU Anti-dumping and countervailing measures against PV products in China will be terminated after midnight on September 3, that is, normal trade will resume on September 4.
On September 1st, a spokesperson of the Chinese Ministry of Commerce said in a speech: "The EU's termination of the "double-reverse" measures against China's photovoltaics will restore the Sino-European PV trade to a normal market, providing more stable and predictable cooperation between the two sides. The business environment truly realizes mutual benefit and win-win between the two industries."
Some insiders believe that this is undoubtedly a major positive for the relevant export companies. The European Union was once the world's largest PV market. Due to the “double oppositionâ€, China's PV companies were hit hard, including Wuxi Suntech and Jiangxi Saiwei, all of which were eventually bankrupt because of the “double opposition†of the EU. However, China's PV export pattern has undergone major changes, forming a situation of “spreading everywhere†in emerging markets.
Termination of "double reverse" to China PV
On August 31, local time in Europe, the European Commission issued a notice saying that anti-dumping and countervailing measures against Chinese solar panels will officially expire at midnight on September 3 after five years of implementation. The European Commission’s statement pointed out that after considering the needs of producers, solar panel users and importers, the European Commission decided that the expiration of these measures would be in line with the interests of the entire EU. This decision also takes into account the EU's new renewable energy target.
As early as 2013, the EU took anti-dumping and countervailing measures against Chinese PV producers for the first time because some local manufacturers proposed that Chinese products were too low in price. Since that year, China's exports of photovoltaic products to Europe have been subject to high tariffs, and the number of Chinese PV products exported to Europe has also shown a rapid decline.
According to the statistics of China Chamber of Commerce for Import and Export of Mechanical and Electrical Products, since 2013, the overall export of China's photovoltaic products has shown a downward trend. Especially for the United States and Europe, there is a "cliff-like" decline.
Wang Bohua, secretary-general of China Photovoltaic Industry Association, said that the price decline of PV products exported to Europe and the United States is more serious. One of the important reasons is the impact of trade remedy investigations frequently initiated by countries such as Europe and the United States. The components exported from China have lost competitiveness after being levied anti-dumping and countervailing duties, which is also one of the reasons for the continued decline in exports to Europe and the United States.
As for the EU's termination of the "double opposition" to China's PV, the Ministry of Commerce spokesman said that China welcomes the EU's "double-reverse" measures against China's PV. The Sino-European PV trade dispute has been gradually resolved. It is the result of the joint efforts of the government and the industry under the high-level concerns of both sides. It is a model for successfully solving trade friction through consultation. The EU's termination of the 'double-reverse' measures against China's photovoltaics will restore the Sino-European PV trade to normal market conditions.
Zhao Yuwen, a photovoltaic industry expert, told the reporter of "Daily Economic News": "With the EU's termination of 'double opposition' and the lowest price commitment, China and the EU will resume normal trade in photovoltaic products, which will also bring more overseas market opportunities to Chinese PV companies. It is expected that the EU will generate greater demand for cheap PV products in China. In addition, the EU's support for PV and the elimination of trade barriers will have a demonstration effect on a global scale, which will bring great confidence to PV companies. â€
China's PV export pattern has changed
Under the pressure of “double oppositionâ€, China's PV exports have taken a new road. According to public data, before the EU's “double-reverse†on China's PV, the European market accounted for more than 70% of the global installed capacity of new PV systems. Domestic PV manufacturers mainly export, and the US and Europe are the main PV companies in China. In the export market, the EU's market share is about 80%.
As PV products have frequently become the “sacrifice†of European and American trade relief investigations, China's PV products exports have gradually formed a “spreading everywhere†situation dominated by emerging markets. According to data released by China Photovoltaic Industry Association, from January to May 2018, among the total exports of China's photovoltaic products, the Indian market accounted for 20.1%, Japan occupied 13.7%, Australia occupied 13.3%, Brazil occupied 5.5%, and Pakistan occupied 2.5%. In addition, although the export of photovoltaic products in China has shown a downward trend in recent years, the performance in the first half of 2018 is very eye-catching. In the first quarter of 2018, the export volume of China's photovoltaic products rose for the first time since 2012. In the first half of the year, the export price of photovoltaic products fell by nearly 30%, but the export volume increased by more than 20%.
Zhao Yuwen, former vice president of the China Renewable Energy Society, said in an interview with the Daily Economic News that China's photovoltaic industry has developed very fast in recent years, especially in the field of photovoltaic manufacturing, and there is no need for so-called government subsidies. In addition to the traditional European and American markets, the demand for photovoltaic products in emerging markets is still very large. This has also opened up other channels for domestic PV companies to reduce the negative impact of the “double-reverse†investigation in Europe and the United States.
“I want to emphasize that it is very wise for Europe to end anti-dumping and countervailing investigations on Chinese PV products. The development of renewable energy and green energy is a global trend, and the EU has been very active in developing renewable energy and environmental governance. Strengthening cooperation and exchanges with the Chinese market is mutually beneficial and win-win, and should not be lost because of small profits," said Zhao Yuwen.
Wang Bohua also pointed out at a seminar that from the global perspective, the cost of photovoltaic power generation is declining. In many countries and regions, its cost is already lower than that of conventional energy. The photovoltaic market is being stimulated. It is expected that the global market will remain. Stable or even growing momentum.
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