China solar stocks shine as Beijing vows to combat price wars
Potential supply-chain reform brightens prospects for ailing domestic sector
Heliostat mirrors at the site of the solar thermal power generation project in Gansu province, China. Stocks of Chinese solar panel makers have rallied in recent days, after authorities warned against price wars leading to excessive competition. © Reuters
LORRETTA CHEN
HONG KONG -- China's official policy shows the desire to put an end to cutthroat price competition and overproduction, as a prolonged streak of producer price deflation haunts the world's second-largest economy. With hopes of potential reforms upcoming, stock prices of Chinese solar panel makers have been among the first to rally.
Shanghai-listed Tongwei jumped as much as 12% in the five trading days to Thursday afternoon. Shares of Sungrow Power Supply also jumped 8.2% in Shanghai. Hong Kong-listed GCL Technology Holdings was 16.5% higher over the same period.
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