The Chinese government vowed to increase oversight of the nation’s beleaguered solar industry, which has suffered billions of dollars in losses as an over-abundance of manufacturing capacity slashes prices.
The Ministry of Industry and Information Technology said in a statement that it would strengthen its guidance over the industry to help it solve urgent problems. Minister Li Lecheng met Thursday with leaders from 14 solar companies, and stressed that they need to better manage disorderly competition and speed up the elimination of outdated production capacity, echoing words from a high-level meeting earlier this week chaired by President Xi Jinping.
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