China Development Bank will limit the photovoltaic industry this year

Due to the decline in global prices, the government was forced to cancel subsidies for the solar industry due to budgetary pressures, leading to low demand and solar panel makers were hit hard. Although the price of solar power is relatively high, the amount of investment in the industry's production capacity is large, which is one of the reasons why the industry is in trouble.

Chen Yuan, chairman of the China Development Bank, said on March 5 that it will limit the increase in the solar panel industry, as excess production capacity may increase the Bank’s asset quality risk. Chen Yuan made the above remarks at the time of attending the 12th National ** meeting.

Chen Yuan also said that it is expected that the local government's ** platform will remain flat this year, and the national development banking industry will also make more efforts to reduce such risks.

Chen Yuan also said that it is expected that the profits of the China Development Bank will not increase significantly this year, because China’s economic growth is moderate and will not bring high profits to the banks.

The CDB earlier this year stated that more than half of the new ** will be invested in urbanization projects.

For overseas mergers and acquisitions, Chen Yuan said that China Development Bank did not plan to acquire overseas in 2013, and overseas ** will be mainly concentrated on overseas projects of Chinese companies. He said that the total size of such foreign countries this year may be in the range of 300 to 500 million U.S. dollars.

The National Development Bank was once China’s largest policy bank and was reorganized into a commercial bank in 2008.