China’s solar panel industry has concluded its response to the European Union’s anti-dumping and countervailing investigation by settling on a price undertaking deal, a landmark step in China’s response to EU anti-dumping investigations. AllBright advised China’s entire solar industry, which includes more than 300,000 employees, demonstrating the strong confidence that the government, chambers of commerce, and hundreds of companies have in AllBright.

Chinese exporters participating in the settlement will be spared the EU’s anti-dumping duties, which average 47.6 percent. In the bigger picture, the agreement, which came after intense negotiations between China and the EU, was worked out to avoid a broader showdown between these two major trading partners.

The EU, in June, imposed an initial tariff of approximately 12 percent on the import of solar panels, cells and wafers from China, with plans to increase it to an average of 47.6 percent starting in August unless a settlement was reached.

After a swift and thorough analysis of the EU complaint against China, AllBright attorneys questioned the qualifications of the complainants, held several hearings to discuss the complex issues, and, most importantly, provided a basis for further negotiations. After the involvement of Chinese authorities, AllBright attorneys helped prepare a deal that maximized its clients’ interests and was also acceptable to both sides.

Europe is China’s major solar panel export market and is the world’s largest solar panel market. In 2011, China’s solar panel exports to Europe topped US$20.4 billion, accounting for 73 percent of the country’s total solar panel exports that year.