OVCHY - After Trump Biden And Yellen's Criticism China Proposes Rules To Cut Down On Solar Panel Overcapacity | Benzinga
China has proposed a draft regulation to curb the expansion of its solar industry in response to global concerns about solar panel overcapacity. This move follows criticism from President Joe Biden, former President Donald Trump, and Treasury Secretary Janet Yellen.
What Happened: The Chinese government has introduced a draft regulation to limit the expansion of its solar industry, Bloomberg reported on Tuesday. This move comes as domestic companies face losses due to oversupply and intense competition.
The regulation, released for public consultation by the Ministry of Industry and Information Technology on Tuesday, will restrict new manufacturing projects that merely increase existing capacity. Companies will be directed to focus on improving quality and reducing production costs.
China’s solar manufacturers ...