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Creating a sustainable future using trade analysis tools
Trina Solar, a world giant in solar technology and manufacturing, has been named among the "Top 500 private enterprises in China" by the All-China Federation of Industry and Commerce in 2020. Trina Solar is a leading global provider of smart energy and renewable energy, specialising in photovoltaic (PV) solar energy.
With revenue of RMB29.4 billion ($4.49 billion), last year reflecting year-on-year growth of 26%, Trina Solar's proud and successful history has forged a solid foundation for its vision as a global energy leader. Hand in glove with its projected growth, Trina Solar's unique vision is underpinned by an advanced global trade management and compliance system.
Chinese companies are the clear global leaders with a 90% share of the world market in the PV industry. However, since 2012, many countries, including Europe, the United States, Australia and India, have strenuously and frequently conducted trade double-reactions (anti-dumping and countervailing duties) against China. Therefore, Chinese companies need to pay special attention to international trade compliance issues.
Currently, Trina Solar's component products are relatively easy to trade. However, to realise their vision to expand their product lines, their company needed to integrate a global trade management system into their import and export process to ensure they comply with all relevant customs, tax and trade regulations.
The Trade Analyzer Suite from Thomson Reuters was able to provide Trina Solar with the required insight into current trade compliance costs and risks. The tools also use scenarios to identify potential cost- and risk-saving opportunities through changes to sourcing or distribution strategies, among other options such as duty deferral programs.
ONESOURCE Analyzer Suite acts as a long-range planning tool, providing Trina Solar access and visibility across all the relevant and latest trade data points from over 210 countries and territories worldwide.
Learn more about how ONESOURCE Analyzer Suite supported the challenges and vision of Trina Solar's photovoltaic enterprise and how it can help your company reduce risk and increase efficiency.
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