China has responded positively to the decision of the European Union (EU) to loosen trade restrictions on Chinese solar panels.
The EU has taken "a positive step" to put the photovoltaic (PV) panel trade back on track as soon as possible, Wang Hejun, head of the Ministry of Commerce's trade remedy and investigation bureau, said Monday in a statement.
China has noticed that the European Commission, the EU's executive body, took into consideration opinions from the Chinese government and firms during its mid-term review of trade measures, Wang said.
The commission made its final ruling Saturday to adopt the minimum import price in place of price undertaking as the latest anti-dumping and anti-subsidy measure on solar panels from China.
Wang welcomes the move as there will be no caps on import volume and the minimum price will be lowered gradually.
"China hopes the EU could completely terminate its trade restrictions on Chinese PV products to provide a more stable and predictable business environment and achieve mutual benefits in the sector," Wang said.
The EU started imposing hefty tariffs on Chinese solar panels in 2013 and extended trade measures at the end of 2015 and the beginning of 2017.
