China's New Policies to Reduce Domestic Demand Burden: Four Measures to Drive Economic Growth

[SMM Polysilicon Imports] According to SMM statistics, domestic polysilicon imports in November were 2,772.69 mt, up 16.80% MoM. Cumulative imports in 2024 reached 36,500 mt, down 38.80% YoY.

[SMM PV Module Export] According to SMM statistics, the export value of domestic PV modules in November was 11.204 billion yuan, down 20.10% MoM. The cumulative import and export value in 2024 was 186.836 billion yuan, down 28.50% YoY.

[6GW Battery + 3GW Module! JA Solar Announces Factory Construction in Oman] On December 19, JA Solar Technology announced in a statement that the company plans to invest in a project in Oman with an annual production capacity of 6GW high-efficiency solar cells and 3GW high-power solar modules. The total investment for the project is 3.957 billion yuan, accounting for 11.27% of the company's most recently audited net assets. According to the announcement, the project is located in the Sohar Free Zone in Oman. The funding sources for the project include self-owned funds, external equity financing, and financing from financial institutions. The company will coordinate funding arrangements to ensure the smooth implementation of the project.

[Another PV Giant Goes Global in the Middle East: JA Solar Technology Plans to Invest 4 Billion Yuan in Oman for Solar Cell and Module Capacity] ① Following its project planning in Egypt, JA Solar Technology announced plans to invest in the construction of a project in Oman with an annual capacity of 6 GW for high-efficiency solar cells and 3 GW for high-power solar modules, with a total investment of nearly 4 billion yuan; ② The Middle East and North Africa region has become a new destination for PV expansion overseas, with several Chinese companies announcing plans and progress, aiming to put projects into operation as early as 2025. (CSJ)

[PV Industry Association Raises Four Questions to Challenge Central State-Owned Enterprise's Low-Price Winning Bid Result] ① The China PV Industry Association issued a statement questioning the bidding process of a PV module project under a subsidiary of the State Energy Group, as it selected a candidate with a bid lower than the "minimum price threshold." ② The association had previously issued a "Risk Warning Letter" advising against setting unreasonable price limits, but no response was received. (Cailian Press)

[Over 40 Regions Suspend Distributed PV Filing!] On December 16, the Development and Reform Commission of Ulanhot City, Inner Mongolia, issued an announcement on temporarily suspending the filing of residential distributed PV power generation projects. Due to the local residential distributed power supply access having reached its stable limit, the power grid is experiencing prominent issues such as insufficient regulation capacity, restricted reverse power transmission, and excessive voltage deviation, making it temporarily unsuitable for residential distributed power supply access. (Polaris Solar PV Network)

[Qinghai: Solar Power Generation Up 20.1% YoY, January-November] From January to November, Qinghai Province generated 105 billion kWh of electricity, up 14.4% YoY. Among them: hydropower (46.87 billion kWh, up 29.5% YoY), thermal power (11.2 billion kWh, down 21.2% YoY), wind power (14.93 billion kWh, up 1.4% YoY), and solar power (32.01 billion kWh, up 20.1% YoY). (Qinghai NDRC)

[SMM Analysis: Polysilicon Prices Continue to Rise Ahead of Futures—What’s Next for the Market?] According to SMM data, polysilicon prices, which had been hovering at the bottom for a long time, have recently shown signs of recovery. Starting from December, polysilicon prices have risen for two consecutive weeks. At the end of November, transaction prices for polysilicon remained around 38 yuan/kg. In contrast, as of now, some delivery prices have approached 40 yuan/kg. During the order signing period, several mainstream producers have concentrated their quotations at 42 yuan/kg.

[SMM New PV Module Cost Index] To help upstream and downstream enterprises in the PV industry chain better grasp the changes in the PV module market, timely reflect the spot market price trends, reduce transaction risks and costs in the PV market, and continuously improve and deepen research on the PV industry chain. After a period of accumulation and market surveys, SMM plans to launch the PV Module Cost Index starting from December 20 as a reference for the market.