China solar industry wishes to prevent US trade war

China’s solar industry opposes a US probe into unfair competition in the solar market and wishes to avoid a trade war, Reuters reported. The heads of Chinese solar companies Yingli Green Energy (YGE.NYSE), Suntech Power Holdings (STP.NYSE), Trina Solar (TSL.NYSE) and Canadian Solar (CSIQ.NASDAQ) said that they do not receive any preferential treatment from the Chinese government, with Suntech Chairman and CEO Shi Zhengrong implying that domestic solar firms were actually succeeding under tougher conditions than foreign competitors. “Interest rates for Chinese firms’ domestic bank loans are much higher than those in Europe and the United States. Foreign criticism of China’s solar industry receiving large government subsidies is immoral,” Shi said. The US Commerce Department began an investigation earlier this month into complaints of unfair competition, with China announcing its own probe into US solar firms on Friday. The US International Trade Commission will consider the issue and vote on December 5 on whether the Commerce Department can proceed and possibly enstate duties on Chinese solar panels.