China's Photovoltaic Business Expected to Draw $10b Investment over 10 Years

China's photovoltaic industry is hopeful of attracting $10 billion in private capital helping the country emerge as one of the world's top markets within the following 3 years. The finance ministry previously introduced policy to subsidize solar power utilization and unveiled a total ¥3 trillion expenditure on the renewable energy sector for the coming decade. China rolled out 1,780MW photovoltaic products in 2008, accounting for 26% of the world output. Suntech Power (NYSE: STP), China's biggest and the world's third biggest solar cell producer, manufactured 500MW, Yingli Green Energy (NYSE: YGE) 282MW and Trina Solar Ltd (NYSE: TSL) 200MW.

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