JinkoSolar, a leading solar panel manufacturer, saw its stock surge by 9.65% on Wednesday, driven by China's move to tighten investment criteria for solar products manufacturing. The Chinese industry ministry issued new guidelines, raising the minimum capital ratio requirement for solar PV projects from 20% to 30%.
This regulatory action aims to rein in the overcapacity that has plagued the solar sector in recent months. The booming solar panel manufacturing in China has led to losses for major producers, who have been forced to sell their products at below-market prices due to intense competition and a race to the bottom in terms of quality.
Industry experts have expressed concerns about the oversupply situation and the potential impact on quality standards. The Chinese solar panel market remains oversupplied, and this glut could persist for up to two more years, according to Longi Green Energy Technology, another leading solar panel manufacturer.
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