This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-13692255
The article has changed 4 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| China ends wind power subsidies after US challenge | China ends wind power subsidies after US challenge |
| (about 11 hours later) | |
| China has agreed to halt subsidies to wind power manufacturers that violate World Trade Organization (WTO) rules, according to US Trade Representative Ron Kirk. | |
| The move comes after the the United Steelworkers Union filed a complaint to the WTO. | |
| The Chinese currently subsidise wind-power firms that use domestic parts instead of imports. | The Chinese currently subsidise wind-power firms that use domestic parts instead of imports. |
| Mr Kirk said this gives them an unfair advantage over US wind turbine makers. | Mr Kirk said this gives them an unfair advantage over US wind turbine makers. |
| "The US is pleased that China has shut down this subsidy program," said Mr Kirk. | "The US is pleased that China has shut down this subsidy program," said Mr Kirk. |
| There was no comment in response to the statement from China. | There was no comment in response to the statement from China. |
| Job creation | Job creation |
| China's move comes as the US faces high unemployment and concerns about being able to generate enough new jobs. | China's move comes as the US faces high unemployment and concerns about being able to generate enough new jobs. |
| "We challenged these subsidies so that American manufacturers can produce wind turbine components here in the United States and sell them in China," said Mr Kirk. | "We challenged these subsidies so that American manufacturers can produce wind turbine components here in the United States and sell them in China," said Mr Kirk. |
| "That supports well-paying jobs here at home." | "That supports well-paying jobs here at home." |
| Mr Kirk also criticised China for not providing regular information to the WTO about its subsidy programmes. | Mr Kirk also criticised China for not providing regular information to the WTO about its subsidy programmes. |
| "China is the second largest trader at the WTO, and it is simply not acceptable that China continues to evade its transparency commitments," he said. | "China is the second largest trader at the WTO, and it is simply not acceptable that China continues to evade its transparency commitments," he said. |
| Major shift? | Major shift? |
| While the decision is being hailed as a victory for the US, analysts say it is unlikely the move will slow down the development of China's renewable energy sector. | While the decision is being hailed as a victory for the US, analysts say it is unlikely the move will slow down the development of China's renewable energy sector. |
| "Chinese wind power companies have reached a stage that, regardless of subsidies, they will head out and aim for overseas markets if there are opportunities," said Dennis Lam from DBS Vickers. | "Chinese wind power companies have reached a stage that, regardless of subsidies, they will head out and aim for overseas markets if there are opportunities," said Dennis Lam from DBS Vickers. |
| China's biggest wind turbine makers, Sinovel Wind Group and Xinjian Goldwind Science and Technology, have already announced overseas expansion plans. | China's biggest wind turbine makers, Sinovel Wind Group and Xinjian Goldwind Science and Technology, have already announced overseas expansion plans. |