SHANGHAI, March. 22 (SMM)- Chen Yuanzhou, Chairman of the China Development Bank (CDB) recently said its bank will strictly control new loans for photovoltaic enterprises to minimize risks. On the other hand, loans for local financing sector will remain stable.
Global economic slowdown and the European debt crisis have taken a big bite out of demand for photovoltaic cells from Europe – the major consumer. As the world’s biggest manufacturer of PV modules and batteries, China suffers severe photovoltaic overcapacity. Domestic photovoltaic giants such as Suntech Power Holdings, Changzhou Trina Solar Energy and Yingli Green Energy Holding are under a lot of stress. Policies and regulations aiming at promoting sound development of photovoltaic industry were adopted during the recently held State Council executive meeting, including M&As.