Many PV companies in China receive huge credit support from China Development Bank

On September 10th, the leading companies in China's photovoltaic industry were Trina Solar (TSL, 27.55, -0.97%), Suntech (STP, 8.97, +0.56%), Yingli Green Energy (YGE, 11.90, +1.28%), Linyang New Energy (SOLF, 11.50, +1.59%) and JA Solar (JASO, 7.27, +1.54%) have all received huge bank credit support.

In April, April 2010, Trina Solar signed a "Developmental Financial Cooperation Agreement" with the China Development Bank's Jiangsu Branch. From 2010 to 2015, according to the business development plan of Trina Solar Limited, Within the scope of the approved bank credit, the China Development Bank is expected to provide Trina Solar with RMB 30 billion *** or other additional currency ** credit line, with specific time, amount, term and interest rate signed by both parties separately** Or credit agreement shall prevail.

A spokesman for Wuxi Suntech on April 14 stated that the company has signed an agreement with the China Development Bank to obtain up to 50 billion yuan (US$7.33 billion)** from the National Development Bank in the next five years**. And said that ** may be used to expand production capacity.

On July 9, Yingli Green Energy, a Chinese solar energy company, announced that it has reached an agreement with the China Development Bank, which will provide Yingli Solar with RMB 36 billion (US$5.31 billion) of credit support for photovoltaic investment.

On July 20, Linyang New Energy, a wholly-owned subsidiary of Linyang New Energy, obtained a credit limit of no more than RMB 6 billion from the Shanghai Branch of Bank of China Nanjing, or an equivalent value of RMB**. The contract will last for 5 years. On July 22, 2010, Linyang Solar Energy Co., Ltd., a subsidiary of Linyang New Energy, obtained a total of RMB 7 billion in credit** or equal foreign currency from the Bank of China Nantong Branch; valid for 10 years and provided a large amount of Credit ** program.

On September 10, solar energy solar cell manufacturer JA Solar Holdings announced the signing of the "Financial Partnership Agreement" with China Development Bank Shanghai Branch. The China Development Bank will provide JA Solar with up to 30 billion yuan in credit and services to support the company's long-term development and corporate development plans.

All the above five companies are listed in the United States, and the market value has entered China's top six listed new energy companies in the United States; the total size accounts for half of China's new energy industry. These companies have received such large-scale financial support that will enable them to build more production bases and further expand market share. This shows that the Chinese government's support for the photovoltaic industry is relatively large.