China's industry ministry is set to tackle price war in solar sector
Many of China's leading solar manufacturers have suffered losses as a result of overcapacity and a prolonged price war.
In a meeting with solar companies and industry association representatives, Li Lecheng, head of China's industry ministry, said authorities should guide companies to improve quality and "promote the orderly exit of outdated production capacity," according to a statement released by the ministry.
The ministry will step up guidance and governance for the industry, Li said. He also urged industry associations to take responsibility for improving industry self-discipline.
Earlier this week, China's senior leaders said they would tighten regulation to deal with aggressive price-cutting by Chinese companies.
Separately, China's top solar panel manufacturer LONGi Green Energy Technology (601012.SS), opens new tab told state media Securities Times on Thursday that it would accelerate the commercialisation of high-efficiency products to overcome the low-price dilemma.
It added that market share for "high-quality capacity" in the sector would grow more quickly after "outdated" capacity is phased out.
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