Outlook for China solar industry 'not optimistic' after U.S. tariff decision: govt

Reuters News
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Posted: Jan 23, 2018 5:14 AM

BEIJING (Reuters) - The outlook for overseas expansion by Chinese solar companies is not optimistic due to frequent trade disputes, the country's Ministry of Industry and Information Technology (MIIT) warned in a statement on the solar industry released on Tuesday.

"China's solar industry has been growing at a fast pace in recent years, making itself a target of protectionism in some countries," the MIIT said, adding the disputes have hindered Chinese solar companies from expanding overseas and would add to the costs in the global solar market.

The MIIT comment followed U.S. President Donald Trump's decision to slap 30 percent tariffs on solar cell and module imports in a bid to protect domestic manufacturers.

The MIIT said it will continue to encourage Chinese solar companies to "moderately" expand businesses overseas.

(Reporting by Muyu Xu and Josephine Mason)