Chinese solar panel manufacturers are selling more to new markets after trade disputes with the U.S. and the EU. Wang Guiqing, Vice President of the China Chamber of Commerce for the Import and Export of Machinery and Electronic Products, said that exports to Europe have fallen to less than 30% of the total now from 70% in 2012. Exports to the U.S., formerly the second-largest export destination, are down to about 10% of the total－half the previous level. Japan has taken the place of the U.S., making up the second-largest market and taking 20% of China’s solar exports. The successful shift has helped many Chinese solar manufacturers by boosting their revenue, reducing capital-draining inventories and providing funds for research and development (R&D). Japan’s high feed-in tariff rate has been a catalyst for that country’s solar industry, and China’s own goal of having 35 GW of installed solar capacity by 2015; and its policy support for solar plants has lifted sales of solar products in recent months, Wang Hao, Analyst with Orient Securities Co noted. “Sales to the European market have contracted sharply, but we are able to make up for the loss of market share by higher sales elsewhere,” said Zhang Hanbin, Senior Market Director of Nasdaq-listed Canadian Solar, which is based in Jiangsu province. Higher sales to the fast-growing Japanese market helped Canadian Solar halve its second-quarter loss and prompted it to forecast profitability on a full-year basis in 2013. Exports to India approached USD700 million in the first nine months of this year, compared with USD100 million in the final four months of 2012, Zhang said. Zhang Longgen, Chief Financial Officer of Jiangxi Jinko Solar Co said that the potential for growth now lies in China and Japan, and that 40% of sales are likely to be within China next year, with Europe and the U.S. each taking up less than 20% of total shipments, the China Daily reports.