The company intends to fully co-operate with the investigation proceedings
JIASHAN, CHINA: ReneSola Ltd, elaborated on a pending US Department of Commerce anti-dumping and countervailing duty investigation regarding certain crystalline silicon PV products from China.
On December 31, 2013, a petition was filed with the Department to initiate an anti-dumping and countervailing duty investigation regarding certain Chinese solar products. This is the second investigation initiated since the first petition was filed at the end of 2011. In 2012, petitions against Chinese-made solar products were also filed in European Union.
Anti-dumping and countervailing duty investigations are commonly used to resolve international trade disputes. The 2011 investigation in the United States was settled by setting certain tariffs on solar modules with cell components produced in China. The 2012 investigation in the European Union was resolved by setting a price floor for Chinese-made solar products.
On March 25, 2014, ReneSola received a letter from the Department in which ReneSola was named as one of the mandatory respondents related to the anti-dumping investigation. According to the World Trade Organization rules, the Department has to guarantee the export quantities of the sampled companies accounted for a certain percentage of the total export sales of China.
It is common practice for the Department to selects certain companies with relatively large market share in the United States to participate in the investigation. The company intends to fully co-operate with the investigation proceedings and to pursue the best outcome for ReneSola, as well as the industry. It is estimated the Department will make a preliminary ruling in June of this year.