China Solar on Watch as Council Backs Financial Support, M&A (YGE) (TSL) (JASO)
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China solar stocks are seemingly lower amid another report of China backing expansion in the sector.
Following an earlier meeting today, China State Council said that the country will "strictly control" new capacity of industries that are big polluters and high-energy consumers. Industries include steel, cement, electrolytic, aluminum and plate glass.
The Council said the China "must" support a "healthy development" of the solar industry and will encourage financial institutions of offer financing to solar companies. M&A will also be promoted to curb "blind expansion" in the segment.
On watch following the comments include names like Trina Solar (NYSE: TSL), Yingli Green Energy (NYSE: YGE), LDK Solar (NYSE: LDK), Suntech Power (NYSE: STP), JA Solar (Nasdaq: JASO), ReneSola (NYSE: SOL), and others.
Following an earlier meeting today, China State Council said that the country will "strictly control" new capacity of industries that are big polluters and high-energy consumers. Industries include steel, cement, electrolytic, aluminum and plate glass.
The Council said the China "must" support a "healthy development" of the solar industry and will encourage financial institutions of offer financing to solar companies. M&A will also be promoted to curb "blind expansion" in the segment.
On watch following the comments include names like Trina Solar (NYSE: TSL), Yingli Green Energy (NYSE: YGE), LDK Solar (NYSE: LDK), Suntech Power (NYSE: STP), JA Solar (Nasdaq: JASO), ReneSola (NYSE: SOL), and others.
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