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The SFC Has Ordered The Suspension Of The Renewable Energy Industry IPO.

2010/6/10 14:27:00 44

SFC Renewable Energy

According to foreign media reports, the SFC has ordered the suspension of renewable energy industry's initial public offering (IPO) due to overcapacity in the renewable energy industry. However, the SFC authority told sina finance that no new stock issue had been ordered.


Reuters today reported that the SFC may have ordered an initial public offering (IPO) to suspend the renewable energy industry. Although officials have not officially announced the freezing of the IPO, executives and investment bankers interested in promoting wind or solar power companies have heard the news.


China's State Council has issued a document on restraining overcapacity and duplication of construction in some industries. It explicitly identified the six industries as steel, cement, flat glass, coal chemical industry, polysilicon and wind power equipment as the focus of regulation and guidance. The Central Bank of China has also said that it is necessary to receive reasonable credit limits for overcapacity, backward production capacity and energy saving and emission reduction control industries, especially those involving expansion of production capacity. Credit authorization should be received by the head office.

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