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The European Union announced an investigation into two Chinese solar panel manufacturers suspected of receiving subsidies, fearing that this would harm the interests of EU companies.
The investigation is based on new rules that took effect in July last year to prevent foreign subsidies from undermining fair competition in the EU. Consortiums under investigation include Romania’s Enevo Group and the German subsidiary of China’s Longi Green Energy Technology. The European Commission said there were sufficient signs that the two companies benefited from foreign subsidies that distorted the internal market.
This is another investigation under the Foreign Subsidies Regulation, which aims to safeguard European economic security and competitiveness.
(Source: AFP Image source: freepik)
