China to promote, optimize PV industry development, to crack down on monopolies, hoarding in the sector – industry ministry
STOCKS
China to promote, optimize PV industry development, to crack down on monopolies, hoarding in the sector – industry ministry
STOCKS

China to promote, optimize PV industry development, to crack down on monopolies, hoarding in the sector – industry ministry

 

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

 

 

China will promote and optimise the development of the country’s photovoltaic industry, pledged to crack down on market monopolies and hoarding and encourage development of power and storage projects.

Due to the mismatches between market supply and demand, severe price fluctuations, and hoarding in the supply chain of the photovoltaic industry, there is an “urgent need to deepen industry management,” the Ministry of Industry and Information Technology said in a notice released on Wednesday.

“Local market regulators are urged to step up supervision and management… and severely crack down on illegal activities in the photovoltaic industry,” said the ministry, citing price bidding, monopoly practices and the production and sale of fake products as such activities.

The ministry cautioned against hoarding and reselling materials and resources within the industry, and encouraged relevant enterprises to develop reserves of polysilicon, batteries and other materials to promote peak shaving and the stability of the industrial supply chain. “Hoarding is strictly prohibited,” it said.