Solar manufacturers led gains among Chinese companies traded in New York after Premier Li Keqiang pledged measures to boost demand and provide financing support.
Yingli Energy (China) Co., a unit of the world’s largest solar-panel maker, said it will stop paying a dividend and slow investments to clear debt after facing anti- dumping duties in Europe.
The European Union imposed tariffs as high as 67.9 percent on solar panels from China in the largest EU commercial dispute of its kind, seeking to help revive a withering industry in Europe.
Yingli Green Energy Holding Co., the world’s largest solar-panel manufacturer, signed a $100 million supply and power plant agreement with DuPont Co.
Tariffs imposed by the European Union on Chinese solar panels are lower than expected and may drive up imports for the next two months while officials pursue a trade agreement, renewable-energy developers said.
China’s crackdown on fake export invoices used to disguise money flows is probably cutting the nation’s trade figures, revealing subdued global demand that will weigh on economic growth.
Solar companies led a rally in Chinese stocks traded in New York after Deutsche Bank AG said the outlook of demand for the renewable energy is improving.
Google Inc., which has invested more than $1 billion in renewable-energy projects, is considering spending more on clean power in Africa after backing its first solar project on the continent.
Trina Solar Ltd., China’s third- largest panel manufacturer, fell the most in a week as declining prices led to a first-quarter loss that exceeded expectations.
The European Union is poised to penalize imports of Chinese solar products, a move that would increase Europe’s cost for most photovoltaic panels an estimated 45 percent overnight.
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