China's solar, new energy firms climb on Beijing's subsidies plan

Xinyi Solar Holdings

31/05/2019 03:08

** Shares in China's solar firms and other new energy firms
rise following Beijing's plan to allocate subsidies
    ** China will allocate 3 bln yuan ($434.34 mln) worth of
subsidies for new solar projects this year, the National Energy
Administration (NEA) said in a statement on Thursday
 urn:newsml:reuters.com:*:nL4N23627Q
    ** The energy regulator had said last month it will give
priority to the construction of solar and wind projects that can
operate without subsidies this year  urn:newsml:reuters.com:*:nL3N21U1N9 
    ** Leading the climb, Ningxia Jiaze Renewables Corp Ltd
 601619.SS , Jiangsu New Energy Development Co Ltd  603693.SS ,
Clenergy Xiamen Technology Co Ltd  603628.SS , Ning Xia Yin Xing
Energy Co Ltd  000862.SZ  and Zhejiang Sunflower Light Energy
Science & Technology LLC  300111.SZ  all surge by daily upper
limit of 10% 
    ** Xinyi Solar  0968.HK , solar panel components maker Longi
Green Energy Technology  601012.SS , solar cell maker Tongwei
 600438.SS , Sungrow Power Supply Co Ltd  300274.SZ  and
dual-listed wind-turbine maker Xinjiang Goldwind Science &
Technology  002202.SZ  2208.HK  rise between 1.8% and 5%
    ** The CSI new energy index  .CSI399808 , tracking major new
energy firms on the mainland, adds 1.2% 

($1 = 6.9070 Chinese yuan)

 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))