UPDATE: China Criticizes US Solar Trade Decision; Says May Hurt US
18 Maio 2012 - 6:41AM
Dow Jones News
China on Friday unleashed a storm of protest across multiple
outlets criticizing the U.S. decision to impose a 31% anti-dumping
tariff on Chinese solar-panel makers and said the action could
backfire on U.S. industries.
The U.S. decision against China raises trade tensions, which
already were heightened because of issues ranging from China's
export quota on rare-earth minerals to controversial imports of
Iranian crude. It also comes during a U.S. election year, in which
the Obama administration has been criticized for not getting tough
on China's trade activities or currency valuation.
Chinese commerce ministry spokesman Shen Danyang said in a
statement Friday that the ruling provoked trade friction in clean
energy and sent a protectionist signal to the world, which wouldn't
only damage Chinese companies but also harm U.S. downstream
users.
"U.S. tariffs will hurt both countries because China imports a
large amount of raw materials and equipment from the U.S. to
produce solar panels, and it exports such goods to the U.S.," Shen
said.
Chinese state television also denounced the decision as
"protectionist," as well as "unreasonable and without basis."
"We fear that if these tariffs are levied in full, Chinese
companies may have no choice but to exit the U.S. market," an
anchorwoman with China Central Television said.
The Chinese Renewable Energy Industries Association, which acts
as an intermediary between domestic renewable energy companies and
the government, said the decision was "a hasty act of trade
protectionism" and wasn't based on market considerations.
It urged the U.S to "review the facts and make the right
decision without being influenced by U.S. elections" and called on
the Chinese government and industry bodies to appeal the
decision.
A Thursday slump in shares of Chinese panelmakers listed in the
U.S. spread to Hong Kong-listed solar cell and wafer companies such
as GCL-Poly (3800.HK), Comtec Solar (0712.HK) and Trony Solar
(2468.HK), which slid between 4% and 7%. The bulk of their exports
are sent to China.
However, shares in Taiwan-listed solar companies were mixed, as
some manufacturing may be rerouted to the island. Jack Hsieh,
spokesman at Motech Technology (6244.TW), the country's biggest
solar-cell maker, said demand rose in the past three months "as the
Chinese gradually outsourced their production." Neo Solar Power
(3576.TW) said diverted orders from China could likely mean
stronger pricing power for Taiwanese firms going forward.
The U.S. Commerce Department said the ruling was preliminary and
that companies will have the chance to challenge the tariffs before
they are made final later this year. Those being hit include
Suntech Power Holdings Co. (STP), Trina Solar Ltd. (TSL) and Yingli
Green Energy Holding Co. (YGE).
The penalties come on top of U.S. anti-subsidy tariffs ranging
from about 3% to 5% levied in March on Chinese solar companies.
"China's exported solar panels have a relatively competitive
price, mainly because of technical research and development work
done by Chinese companies," China foreign ministry spokesman Hong
Lei said Friday.
"At the same time, China has imported a lot of raw materials and
production equipment from the U.S., and this has benefited the U.S.
economy," he said.
"This action by the U.S. has hurt cooperation between China and
the U.S. in the renewable energy sector, and hurt the U.S. itself.
We hope the U.S. will appropriately resolve this issue."
-By Wayne Ma, Dow Jones Newswires; +86 10 8400 7714;
wayne.ma@dowjones.com
(Sarah Chen, Yajun Zhang and Bill Kazer in Beijing contributed
to this article)
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