The cancellation of tax refunds has not stopped China's photovoltaic industry from expanding overseas. In the first four months of 2026, the cumulative export volume of Chinese photovoltaic products increased by about 43% year-on-year, and even though export tax rebates were officially cancelled from April 1st, overseas orders continued to flow continuously. Among them, the Southeast Asian market has performed particularly well, with a year-on-year surge of 267% in component exports in April, becoming the core engine driving overall exports.

Policy retreat cannot stop rigid demand

The cancellation of export tax rebates was originally seen as a bearish trend in the industry, but the market reaction far exceeded expectations. China's photovoltaic industry, with its cost-effectiveness and supply chain maturity, continues to compete for orders in the global energy transition. Southeast Asia has become the fastest-growing export destination due to the concentrated release of photovoltaic installed capacity demand. In April, module exports surged by 267% year-on-year, which is sufficient to demonstrate the strong resilience of the demand side.

From going global in scale to breaking through in quality

The global photovoltaic installed capacity is expected to remain above 500GW by 2026, and the market space is still vast. Domestic enterprises are accelerating technological upgrading and structural optimization, shifting from scale expansion to improving quality and efficiency. The proportion of high-end products such as high-efficiency batteries and intelligent components continues to increase. China's photovoltaic industry is moving from selling products to selling technology and standards, and its global competitiveness is undergoing a qualitative change.Editor/Cheng Liting