System Integration Technology GCL (GCL-SI) (Shenzhen Stock Exchange: 002506), a subsidiary of leading global energy company GCL, today announced its withdrawal from the agreement with the EU on the minimum import price (MIP).
The agreement on the PMI, initiated by the European Union (EU) is to impose restrictions on imports of solar modules produced by Chinese companies. Under the agreement, GCL-SI which has complied, Chinese solar manufacturers have to sell their cells or solar panels at a price above a set minimum price. Companies that do not respect the agreement may be subject to anti-dumping duties (AD) and anti-subsidy (AS). For GCL-IF, they amounted to 41.3% and 6.4%, respectively.
Mr. Shu Hua, President of GCL-SI, said: “We have carefully studied the European solar market and noticed that the average selling prices of solar modules are down in all major EU markets and the PMI current does not reflect the actual environment of the market price. PMI actually prevents competitive Chinese manufacturers to provide more clean energy products on the European market. Accordingly, PMI hinders the creation of employment opportunities as the clean energy demand is very strong right now in Europe . This results in a situation that is beneficial to neither party. “