Shares in Beijing Jingyuntong Technology, a Chinese manufacturer of solar energy-related materials and equipment, dropped by 4.6% today amid worries about the business outlook at some of its best-known customers.
Shares in LDK Solar and Suntech lost 2.4% and 5% in the U.S. overnight on reports that LDK plans to lay off staff as it faces a huge debt burden. (See related story here.)
China’s solar industry has shot up the ranks of the world’s largest in recent years but critics say it relies too much on preferential government policies at home and customer subsidies from overseas governments that can no longer afford to pay.
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Shares in LDK Solar and Suntech lost 2.4% and 5% in the U.S. overnight on reports that LDK plans to lay off staff as it faces a huge debt burden. (See related story here.)
China’s solar industry has shot up the ranks of the world’s largest in recent years but critics say it relies too much on preferential government policies at home and customer subsidies from overseas governments that can no longer afford to pay.
Read More
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