(April 20): Chinese authorities have called for “every effort” to strengthen capacity controls in the solar industry, as the sector continues to struggle with excess production.
Agencies, including the Ministry of Industry and Information Technology and the National Development and Reform Commission, held a meeting on Friday and emphasised the need for enhanced inter-departmental collaboration and consistent policy implementation to address the industry’s deep-rooted challenges, according to a statement released on Monday.
The government has now met at least three times this year with solar equipment makers, which are grappling with losses caused by overcapacity and fierce competition. The latest gathering also involved several state-owned power generators that buy solar products, including China Huaneng Group Co and China Datang Corp.
Chinese solar stocks rose on Monday morning, with Jinko Solar Co and CSI Solar Co both gaining as much as 1.6%.
Uploaded by Arion Yeow
