In the just-concluded China-US New Energy Consultation, China agreed to stop subsidizing wind power equipment manufacturers that use domestic wind turbine components. The U.S. Iron and Steel Workers Federation applied for a resolution to the World Trade Organization (WTO) for unfair competition in the domestic clean energy industry. According to the data, the amount of subsidies provided by China since 2008 has ranged from $6.7 million to $22.5 million.
China’s withdrawal of its subsidies for the use of domestic wind turbine generator components is a political gesture to respond to US complaints to WTO organizations rather than deliberately slowing the development of local wind power. In spite of this, it is expected that part of the demand for domestic wind turbine components will be transferred to the imported products whose product quality is generally higher but prices are higher after the subsidy is cancelled. The local wind turbine component manufacturers will become the main part of this incident. Affected companies, such as gear manufacturers China High Speed ​​Drive. The cancellation of this subsidy will also be a further blow since the regulation that 70% of wind turbine components must be locally produced was cancelled in 2009.
The cancellation of subsidies for local components will also affect wind power equipment manufacturers in terms of profit margins, such as Xinjiang Goldwind. Dongfang Electric and Shanghai Electric are relatively moderately affected, as the two companies are integrated power equipment manufacturers and have little involvement in wind power generation (accounting for approximately 20% and 10% of total 2010 revenue, respectively). For Harbin Power Equipment, the actual business has not yet been shaped as the company announced that it is working with General Electric to develop wind power equipment projects. The impact of this cancellation of subsidies needs to be observed.
China’s withdrawal of its subsidies for the use of domestic wind turbine generator components is a political gesture to respond to US complaints to WTO organizations rather than deliberately slowing the development of local wind power. In spite of this, it is expected that part of the demand for domestic wind turbine components will be transferred to the imported products whose product quality is generally higher but prices are higher after the subsidy is cancelled. The local wind turbine component manufacturers will become the main part of this incident. Affected companies, such as gear manufacturers China High Speed ​​Drive. The cancellation of this subsidy will also be a further blow since the regulation that 70% of wind turbine components must be locally produced was cancelled in 2009.
The cancellation of subsidies for local components will also affect wind power equipment manufacturers in terms of profit margins, such as Xinjiang Goldwind. Dongfang Electric and Shanghai Electric are relatively moderately affected, as the two companies are integrated power equipment manufacturers and have little involvement in wind power generation (accounting for approximately 20% and 10% of total 2010 revenue, respectively). For Harbin Power Equipment, the actual business has not yet been shaped as the company announced that it is working with General Electric to develop wind power equipment projects. The impact of this cancellation of subsidies needs to be observed.
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