In recent developments, the China Development Bank (CDB) has announced plans to restrict the growth of the photovoltaic industry this year. This decision comes as a response to the global decline in solar panel prices and mounting financial pressures on the government, which forced it to cut subsidies for the sector. As a result, demand has dropped significantly, leaving solar panel manufacturers struggling with reduced revenues.
Despite the relatively high cost of solar power, the industry is facing challenges due to the massive capital required for production capacity. This overcapacity has contributed to the current difficulties within the sector. On March 5, Chen Yuan, Chairman of the CDB, highlighted during the 12th National ** meeting that the bank will take measures to control the expansion of the solar panel industry, citing concerns over rising asset quality risks from overproduction.
Chen also noted that local government financing platforms are expected to remain stable this year, and the CDB will continue to focus on mitigating such risks. Additionally, he mentioned that the bank's profits are unlikely to see a significant increase this year, as China’s economic growth remains moderate, which typically does not translate into high returns for banks.
Earlier this year, the CDB stated that over half of its new investments will be directed toward urbanization projects. Regarding overseas mergers and acquisitions, Chen clarified that the CDB did not plan to acquire foreign assets in 2013. Instead, its focus will be on supporting Chinese companies’ overseas projects. The total amount allocated for such initiatives this year is expected to range between $300 million and $500 million.
Once the largest policy bank in China, the National Development Bank was restructured into a commercial bank in 2008. Its evolving role reflects broader shifts in China’s financial landscape, balancing development goals with economic sustainability.
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