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Officials seek talks with EU over solar trade probe (2)

By Liu Yiyu  (China Daily)

13:40, August 23, 2012

There is a 45-day window before the European Commission's decision to launch an investigation. Two-thirds of that time has passed since German's SolarWorld AG filed its complaint with the European Commission on July 24.

Facing shrinking overseas market, Chinese companies are changing their strategy. "We are establishing a global manufacturing base outside of China," said Stephen Cai, CEO of the China Sunergy (Nanjing) Co.

"Other measures include technology advance and cost reduction, in the hope that grid parity can be realized soon."

Meanwhile, bankruptcy rumors have plagued China's leading PV makers, including Suntech Power Holdings Co and LDK Solar.

China's top 10 PV makers have combined debts of $17.5 billion, leading the whole industry to the brink of bankruptcy, according to data from US investment agency Maxim Group.

Based on preliminary results of domestically traded photovoltaic companies for the first half, nearly 80 percent have slashed their earning forecasts.

Liu said the government should change its policy from building the country into the largest solar manufacturing base into a major solar-application market.

China has raised its solar generating target for the Five Year Plan period (2011-15) to 21 gigawatts from 5 gW initially.


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