China today welcomed the European Commission's decision to cancel import duties on Chinese solar panels from September 3, after nearly five years in force.
In a statement, the Chinese Ministry of Commerce said the measure would restore trade in solar panels between China and the European Union in line with "normal market conditions".
In addition, it will generate a "more stable and predictable business environment" so that industries can get "beneficial results" on both sides, he said.
According to the Xinhua news agency, the Asian giant wants to continue to work with the EU and promote "global free trade" and a "rules-based multilateral trading system".
The European Commission imposed the fees in December 2013 after months of research showing that Chinese companies sold solar panels in Europe far below normal market prices.