CX Daily: New Solar Cell Materials Could Brighten Profit Prospects — One Day
Companies under pressure from shrinking subsidies and increasing competition are throwing money at technology which could eventually boost the panels’ efficiency
Workers build a photovoltaic power plant in Zhoushan, East China's Zhejiang province, on June 8. Photo: VCG
Solar /
In Depth: New solar cell materials could brighten profit prospects — one day
China’s solar energy sector is throwing money into new technologies as subsidies are stripped away and manufacturers look for an edge in an increasingly competitive field.
That includes an emerging material, perovskite, that experts say could significantly improve the efficiency of solar panels, as well as other components like silver paste and protective films.
Beijing, which increasingly sees a green transformation as a high priority, is also making new renewable energy technology part of its economic planning.
Health code /
Graft busters to investigate after more reports of health code app abuses in Henan
Following accusations on social media that authorities in Zhengzhou, Henan province, misused a Covid-19 health code app to keep bank depositors away, reports surfaced that a number of property owners involved in a rights protest experienced something similar.
On Friday, graft busters in the central Chinese city launched an investigation into the allegations, vowing to “seriously handle” any misconduct, according to a government statement.
FINANCE & ECONOMY
In the first five months of this year, private investment increased 4.1%, slowing from 7% in 2021.
Private investment /
China vows more support for private investment
China will support private investment and create a fair, transparent and law-based development environment for enterprises under all forms of ownership, the country’s cabinet and state planner said at recent meetings.
The pledge came after data showed that the private sector’s share of total investment keeps declining and that growth in private investment slowed compared with overall growth.
In the first five months this year, private investment increased 4.1%, slowing from 5.3% in the first four months and 7% in 2021. Overall investment expanded 6.2%, data from the National Bureau of Statistics of China showed.
GDRs /
Joincare Pharmaceutical plans share sale in Switzerland
Joincare Pharmaceutical Group Industry Co. plans to sell shares on the Swiss stock exchange, becoming the ninth Chinese company to issue global depositary receipts (GDRs), Joincare said Thursday.
China has been encouraging domestic companies to seek global fundraising through a cross-border investment channel linking China and European markets as part of efforts to open the country’s financial markets to foreign investors.
Quick hits /
China budget income shrinks 33% in May on tax rebates
Israel and Hong Kong team up to test digital currency cyber risk
BUSINESS & TECH
Wenzhou's Oujiang Road at night. Photo: VCG
Mortgage /
Ultra-easy home loan policy raises eyebrows
A Chinese city announced one of the laxest mortgage policies among local governments this year in the hope of shoring up weak housing sales. But some analysts warned it carries risks for lenders.
The branch of Huaxia Bank Co. Ltd. in Wenzhou, East China’s Zhejiang province, will allow certain homebuyers to repay only their mortgage interest in the first three years, saying they can begin to repay the principal starting in the fourth year, according to a statement this week from the local government which has signed an agreement with the bank.
The policy applies to local residents buying their first homes with a minimum mortgage term of 10 years, as well as to second-home buyers who have paid off their first-home mortgage.
CPU /
Chinese CPU maker Loongson eyes $357 million in downsized IPO
Chinese CPU maker Loongson Technology Co. Ltd. completed online subscription for its public share sale, moving a step closer to a planned debut on Shanghai’s STAR Market.
Loongson aims to raise 2.42 billion yuan (357 million) through the initial public offering, down from previously announced 3.5 billion yuan. Chairman Hu Weiwu said the downsized offering reflects multiple market factors and pledged to further increase investment in research and talent to boost the company’s business.
Quick hits /
China’s No. 2 online retailer warns consumer recovery is months away
Cathay Pacific can’t stop pilot exodus even as it boosts hiring
Tech Insider /
CPU-maker’s Shanghai IPO, iQiyi denies rumor Baidu wants out
GALLERY
South China metropolis suffers submerged streets
WEEKEND LONG READ
