China's Solar Sector Pledges: Curbing Low-Price Chaos

China's industry ministry is taking measures to control disorderly competition in the solar sector due to overcapacity and a price war. The ministry aims to enhance industry quality and phase out outdated production. Solar manufacturers, like LONGi, plan to focus on high-efficiency products to increase market share.

The Chinese Ministry of Industry has pledged to address chaotic low-price competition within the photovoltaic industry, a sector currently reeling from overcapacity and aggressive price-cutting strategies.

During a meeting with key solar manufacturers and industry representatives, Industry Minister Li Lecheng emphasized the need for companies to enhance quality and facilitate the exit of outdated production capacities. There is a call for improved self-discipline among industry players, supported by increased governmental oversight.

China's heavyweight solar manufacturer, LONGi Green Energy Technology, announced it would expedite the commercialization of high-efficiency solar products to navigate the ongoing price war. The company believes the market for advanced, high-quality capacity will expand swiftly as older, inefficient production methods are phased out.

(With inputs from agencies.)