01 Jul 2025
More recent developments
April 3, 2026
TCL Zhonghuan completes solar industry’s first major capacity acquisition
On March 30, solar wafer giant TCL Zhonghuan announced it had completed its planned acquisition of struggling module manufacturer DAS Solar. TCL now owns 59.14% of DAS, having spent RMB 1.26 buying a mix of newly issued shares and existing… Read More »
April 2, 2026
China to introduce a new tax to improve local finances
China is laying the groundwork for a new local tax source. On March 30, the finance ministry (MoF) announced it will formulate a draft Local Surtax Law – combining the urban maintenance and construction tax, education surcharge, and local education… Read More »
April 2, 2026
Banks’ NIM pessimism makes 2026 rate cut unlikely
A rate cut this year is less likely than we previously thought. Some context: On January 15, central bank (PBoC) Deputy Governor Zou Lan said that banks’ net interest margins (NIMs) – the main constraint on rate cuts – will… Read More »