The European Commission's endorsement of the solution to the European Union (EU)-China solar panels case has been welcomed by China, the country's Ministry of Commerce (MOC) said Monday.
The commission, the EU's executive arm, said last Friday that it had adopted a decision to accept the undertaking offered by Chinese exporting producers of solar panels, as well as a regulation exempting participating companies from paying provisional anti-dumping duties.
"China welcomes the EU's adoption of the price undertaking deals, which signified an official ending to the EU's anti-dumping investigation into China's solar panels producers," said MOC spokesman Shen Danyang.
He added that the EU's endorsement of the solution conforms to the interests of both parties, as Chinese solar panel exporters will maintain a reasonable quota in the EU market to meet European demand.
The participating companies from China should value the negotiation result and effectively implement the price undertaking deals to maintain a sound export order of solar products, he said.
Shen said China hopes both parties will continue to settle trade disputes with positive, friendly, practical and flexible manners to create a sound environment for China-EU economic and trade cooperation.
The agreement, which will take effect on Aug. 6, came nearly two months after the European Commission decided on June 4 to impose provisional anti-dumping duties on imports of solar panels, cells and wafers from China.