www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Solar firms warned on delisting

Govt bailout plan for LDK Solar sparks debate

(Xinhua) Updated: 2012-07-21 16:25

Govt bailout plan for LDK Solar sparks debate

Workers assemble solar cells in one of LDK Solar's plants in Xinyu, Jiangxi province. [File Photo/Xinhua] 

NANCHANG -- A bailout plan created by the government of the city of Xinyu for LDK Solar, one of the world's largest solar wafer manufacturers, has sparked controversy in China regarding its credibility.

The Xinyu Municipal People's Congress, the city's legislative body, passed a resolution on July 12 that included the repayment of 500 million yuan ($79 million) in loans extended to LDK Solar by the Huarong International Trust and Investment Corp in the city government's annual fiscal budget.

The use of public funds to repay the debts of a private company, a rarity in China, has aroused heated debate.

"The fiscal budget is for public service, not for the development of a company," Shi Zhengwen, director of the taxation and financing research center of the China University of Political Science and Law, was quoted as saying by China Business News.

"LDK Solar is just a leading company in a competitive industry, and it has no bearing on major public interests and economic security," Shi said. "The government cannot repay a company's debt just because it pays more taxes and employs more people," he said.

LDK Solar, established in 2005, was the first company in East China's Jiangxi province to be listed on the New York Stock Exchange. It employs more than 20,000 people and paid 1.3 billion yuan ($203.97 million) in taxes in 2011, almost 12 percent of the city's total fiscal revenues.

LDK Solar is ranked 266th on Forbes' list of the top 500 Chinese companies for 2012. The provincial government has stated its desire to turn the photovoltaic industry into pillar industry, with LDK Solar expected to have annual sales of 100 billion yuan in 2015.

The drastic expansion has made LDK Solar a shining star in China's new energy industry. But shrinking demand for solar products and dropping prices for panels that convert sunlight into electricity have forced several companies in China, Europe and the US to shut down their operations.

LDK Solar had sales revenues of 13.93 billion yuan and suffered a net loss of 5.49 billion yuan in 2011, according to its yearly report. Its total debt amounted to 30.23 billion yuan by the end of 2011.

The company saw it sales drop by $185 million in the first quarter and posted a gross margin of negative 65.5 percent due to serious price erosion.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 国产欧美二区三区 | 国产欧美一区二区日本加勒比 | 亚洲国产高清视频 | 毛片在线看免费 | 中国一级毛片欧美一级毛片 | 九九99靖品| 欧美成人精品三级网站 | 日韩免费一区二区三区在线 | 草草影院ccyy免费看片 | 国产精品免费一区二区三区四区 | www一级片| 中文国产成人精品久久一区 | 完整日本特级毛片 | 国内精品久久久久影院亚洲 | 亚洲欧洲日本天天堂在线观看 | 精品一区二区三区在线成人 | 国产日韩欧美一区二区 | 国产深夜福利视频在线播放 | 日本xxxxx黄区免费看动漫 | 一级特黄aaa大片在线观看 | 成年人在线视频网站 | 最刺激黄a大片免费观看下截 | 手机看成人片 | 97capcom超频在线 | 大视频在线爱爱爱爱 | 欧美视频精品一区二区三区 | 综合久久久久久中文字幕 | 精品精品国产自在久久高清 | 成人三级网址 | 欧美成人免费xxx大片 | 久 在线播放| 萌白酱粉嫩jk福利视频在线观看 | 欧美亚洲中日韩中文字幕在线 | 国产亚洲精品精品国产亚洲综合 | 亚洲高清国产品国语在线观看 | 亚洲人成综合网站在线 | 成人久久久久 | 国产a毛片 | 毛片免费全部播放一级 | 日本特一级毛片免费视频 | 91日本在线观看亚洲精品 |