Chinese Premier Wen Jiabao yesterday chaired a State Council executive meeting, giving an analysis on the economic situation, and the deployment of recent work. The meeting requirements should ensure implementation of the expansion of energy-saving products which benefit the project scope, giving access to public facilities and family support self-contained solar and other new energy products. The industry really has gained a large advantage.
From the performance currently this year, the situation is that as of May 23rd, the new energy index rose 8.02%, underperforming the CSI 300 index by 5 percentage points, but strong in the energy saving and environmental protection index; part of the plate segments, in addition to solar power index underperformed CSI 300 Index, green energy-efficient lighting, lithium batteries, new energy vehicles, movement of the Index were better than the CSI 300 index. But it is worth mentioning that the relatively high price-earnings ratio of these plates, lithium plate as a whole had nearly 50 times a price – earnings ratio, far higher than the CSI 300 overall of 11.18 times earnings, all A shares and 14.22 times earnings is also much higher.
State Council executive meeting held on the evening of May 23d, again shows dependable growth in the economy and work. Which clearly support the self-contained solar and other new energy products, access to public facilities, this country for the first time this year has given clear guidance on the direction and development of new energy. During the new energy short-term adjustment period, China wishes to boost confidence. Wind power, photovoltaic is entering into industry consolidation, especially in the photovoltaic industry hurt by the lack of European subsidies, has lowered capacity of growth, and product prices have fallen sharply, the U.S. anti dumping attack has led to a high tax rate, the industry is in an overly-pessimistic state, the country's guidance is expected to inject a shot to the arm of the industry, and restore industry confidence.
