Industry Brief: China cancels and reduces product tax rebates for photovoltaic and battery products
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China will cancel or reduce the export tax rebates for photovoltaic products and batteries. Starting from April 1, the export value-added tax rebate for photovoltaic products will be canceled, and the rebate rate for battery products will be reduced from 9% to 6%. This policy has received a positive response from the industry and aims to restore rational pricing in the international market and reduce the risk of trade friction. The stock price of photovoltaic company JinkoSolar rose by 7.6%, while LONGi Green Energy increased by 4.6%; battery manufacturer CATL fell by 2.5%, and EVE dropped by 1.5%
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