CX Briefing: New Solar Installations Nosedive

A rundown of the news making headlines in and around China:

Falling solar installations: China’s solar power installations plunged last month following the end of a policy that guaranteed state purchases of renewable power. The National Energy Administration reported Wednesday that installations fell by nearly 40% year-on-year and by a starker 85% month-on-month in June, dropping to 14.36 gigawatts. In the months leading up to the June 1 cut-off date for the policy, companies rushed to complete their solar projects and get them hooked up to the grid. Experts said this “installation rush” sucked up a significant amount of demand from later in the year, creating a drag that is expected to slow the growth of new solar installations for the rest of the year.