中国商务部在其网站发布公告称,将对欧盟进口的太阳能级多晶硅进行反倾销和反补贴调查,调查自2012年11月1日起开始,通常应在2013年11月1日前结束调查,“特殊情况下”可延长至2014年5月1日。以上调查将与针对美国和韩国多晶硅产品的反倾销调查以及针对美国多晶硅的反补贴调查(以上调查自2012年7月20日开始)一同展开。同时,商务部证实代表中国多晶硅行业提交调查申请的企业与7月份的的调查申请一样为保利协鑫(3800.HK,评级为中性)、赛维LDK(LDK,未覆盖)、大全新能源(DQ,未覆盖)以及洛阳中硅。

China's commerce ministry said on its website by way of a public announcement,The European Union will import the sun level polysilicon on anti-dumping and countervailing investigation,Investigation since November 1 in 2012 began,Usually should be in November 2013 1 end survey,"Special circumstances"Can be extended to on May 1, 2014.Above survey will and aimed at the United States and South Korea polysilicon product anti-dumping investigation against the United States and of polysilicon countervailing investigation(Since the above survey on July 20th, 2012)Launches together.At the same time,On behalf of the Chinese ministry of commerce confirmed polysilicon industry to submit application for investigation of the enterprise and the July issue of the investigation for application of poly xin(3800. HK,Rating for neutral)/"D LDK(LDK,Not cover)/Big new energy(DQ,Not cover)And the silicon in luoyang.

　　分析

analysis

　　商务部并未透露潜在关税的规模、范围或时间。商务部除了给出20天的应诉窗口期之外并未进一步划定时间框架。我们注意到欧盟针对中国晶体硅光伏组件和关键部件的反倾销调查已于2012年9月6日开始(参见我们2012年9月6日发表的报告中国:清洁能源:太阳能:欧盟正式启动针对中国光伏企业的反倾所调查)。

The ministry of commerce did not give the size of the potential tariffs/Range or time.The ministry of commerce besides gives 20 days of appearance outside the window period did not further defined time frame.We note that the eu against China crystal silicon photovoltaic module and key parts of the anti-dumping investigation has in September 6, 2012 start(See us on September 6, 2012 published the report China: clean energy: solar energy: the European Union official start against Chinese photovoltaic enterprise reverse pour the investigation).

　　投资影响

Investment effect

　　尽管商务部此举进一步显示出中国政府支持处境艰难的太阳能行业的努力,但由于2011年超过60%的中国出口太阳能产品销往欧洲市场,中国和欧盟间光伏贸易摩擦的日益升级可能为中国太阳能企业带来更大的挑战。但鉴于可能对美国、韩国和欧盟的进口多晶硅征收关税,与全球同业企业相比,保利协鑫等生产规模大且成本低的国内多晶硅生产商可能在短期内受益(销量上升)。但关税问题在中期内将对中国以外的太阳能产品需求产生怎样的影响,以及中国太阳能产能全球再分配的最终结果如何仍存较大的不确定性。

Although the ministry of commerce the move further shows that the Chinese government support in difficulties of solar industry efforts,But as a result of 2011 more than 60% of China's export products are sold to the European market of solar energy,China and the eu trade friction between pv increasingly likely to upgrade China's solar energy enterprise to bring greater challenges.But in view of may to the United States/South Korea and the European Union imports polysilicon tariff,Compared with the global trade enterprise,Poly association xin and other production scale and low cost domestic polysilicon manufacturers may in the short term benefit(Sales rise).But in the medium term tariffs to the solar energy product demand outside China what effect,And Chinese solar capacity global redistribution of how the final result are still greater uncertainty.