Wednesday, January 02, 2013

"We call this the place where only ghosts live": China's planet-healing solar industry not going gangbusters

Business: China's solar industry faces stress test --
KAIHUA INDUSTRIAL PARK, China -- By many measures, this industrial park built to cater to solar businesses in eastern China's Kaihua County appears to be dead.

Roads are unimpeded by traffic. Most buildings stand vacant. Walking past dozens of factories here, no workers pass by. No machinery whirs.

"It is so quiet, ha? We call this the place where only ghosts live," said Yu Zhengying, who runs a restaurant outside the industrial park. Sitting in her empty hall during lunchtime, Yu said she used to greet many workers over the past three years, but now only a few come.
What has also tumbled is the stock value of U.S.-listed Chinese solar companies with shrinkage of more than 85 percent since early 2011. Suntech Power Holdings, the industry leader, in 2012 received a warning of being delisted from the New York Stock Exchange as its share price stayed below $1 for a month. By contrast, that figure was nearly $90 in 2008.

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