China summons top solar firms over monopoly concerns

China summons top solar firms over monopoly concerns

An employee works on the production line for solar panels at a factory of GCL System Integration Technology in Hefei, Anhui province, China May 16, 2024. China Daily via REUTERS

China’s market regulator has summoned six top Chinese solar firms including Tongwei, Daqo New Enery and GCL Technology over monopoly concerns, state media China Securities News reported on Thursday.

The regulator urged the companies not to coordinate on production capacity, capacity utilisation, output or prices, the report said.

It also prohibited the enterprise from dividing markets or allocating production and profits through investment ratios, and demanded that they submit written rectification plans by January 20.

Reuters

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