BEIJING, Sept. 1 (Xinhua) -- China welcomes the European Commission's end of restrictions on the sales of solar panels from China and believes it will result in win-win and mutual benefits, the Ministry of Commerce (MOC) said on Saturday.

The ministry described the move as a successful model of resolving trade frictions through consultations, adding it will restore China-EU trade of solar panels to normal market conditions and provide a more stable and predictable business environment for both industries to realize win-win results, a spokesperson with the ministry said in a statement.

As an important clean energy product, solar panels are widely used to cope with climate change and are significant for achieving emission cut targets for countries around the world.

These days, it is more important than ever to take steps towards dealing with climate change. China is willing to continue cooperating with the European Union to advance emission cuts, climate adaptation and sustainable development, and push for global free trade and a rule-based multilateral trading system, according to the statement.

The European Commission announced on Friday its decision not to extend trade defense measures on solar panels from China after rejecting the European Union (EU) industry's request for an expiry review investigation.

"After having been in place for almost five years, the EU anti-dumping and anti-subsidy measures on solar panels from China will expire at midnight on Monday 3rd September," the European Commission said in a statement.