China's July solar exports fall 21.4% as loss of tax incentive continues to weigh

Business Recorder reported that China's solar shipments dropped 21.4% year on year in July, marking the third straight monthly decline as the scrapping of an export tax rebate kept weighing on sales. Customs figures released on Tuesday show that 830,000 metric tons of cells and panels left the country, down from 980,000 tons in June. In value terms, July's overseas sales came to $2.13 billion, which is 4% lower than a year earlier.

The July total sits far below an earlier high. In March, sellers rushed shipments ahead of the remaining rebate period, pushing volumes to a record 1.75 million tons. On a unit basis, 658.73 million pieces were shipped, a 40.4% drop from the same month last year.

Shipments to Southeast Asia, South Asia and Africa have risen in recent months, while sales to Europe, China's largest buyer, have declined. The customs administration will publish detailed July export data on Thursday.