Chinese solar power industry urged to stay united in face of US pressure
- Industry body says companies should avoid ‘disorderly and vicious’ competition
- US Treasury Secretary Janet Yellen recently said she would push for measures to address overcapacity in China
A Chinese solar industry body has warned against “vicious” internal competition in the face of efforts by the United States to target overcapacity in the sector.
Overseas trade barriers already pose a big challenge for Chinese solar panel makers, according to the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, a semi-official organisation in Beijing, but it fears the situation will become worse.
China’s solar industry experienced fierce competition in 2023, resulting in overcapacity and a general sharp decline in product prices, the chamber said in a report released Saturday.
“[We must] avoid disorderly and vicious competition within the industry. The government and business associations should promote industry self-discipline and compliance and sustainable development.” the report said.
“Because of the limited domestic instalment and high overseas stocks, the industry is now under pressure.”
Recently US Treasury Secretary Janet Yellen vowed to “press my Chinese counterparts” to take necessary steps to address overcapacity issues and create a level playing field for American businesses.