China's Hareon Solar receives CNY48m subsidy from government

18 December 2012 07:48  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Hareon Solar has received a subsidy of yuan (CNY) 48m ($7.7m) from the government, according to a statement on Tuesday on Shanghai Stock Exchange.

Photovoltaic (PV) industry in China has been facing huge pressure following anti-dumping and countervailing measures and investigations on imports of Chinese PV products by the US and EU, industry sources said.

It is important that the government provides support for the industry to solve these problems, the sources added.

Since last year, Chinese PV industry has been depressed, experiencing tough times. Most PV producers has suffered loss as a result of international financial crisis and trade protectionism, Danyang Shen, the spokesman of ministry of Commerce in China, said in a news conference on Tuesday.

The PV industry is one of the Chinese strategic new industries, the government is making some policies to help domestic PV industry develop healthily, and the ministry of commerce will actively take part in it, Danyang Shen added.

($1 = CNY6.24)

By: Viola Pan
+65 6780 4359

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