From China Daily;
China will boost its support of new energy and renewable energy in 2013 through the development of hydropower, wind power and distributed photovoltaic power generation, the National Energy Administration said on Tuesday in a statement posted on its website.
China will add 21 gigawatts of hydroelectric generation capacity, 18 gigawatts of wind power generation capacity and 10 gigawatts of solar power generation capacity, the statement said.
The administration also said that it will release overall guidelines to reform the energy system and will carry out pilot projects.
The Chinese banks are in trouble and people are just catching on. MY's receivables are out almost 2 years, primarily because most of their customers, who are state entities, can not themselves get funds to pay MY. It's like a merrygoround but there is no brass ring, no prize at the end. And if they go overseas? Then they have to provide financing and since their banking system is under duress, where do they turn for funding?
Sorry to say, unless they get their financial house in order, they are headed out of business. I think they know that, but what to do is the issue.
And they have to do a much better job of laying out the issues and discussing them. Their response to the receivables problem on the last conference call was "we have good customers." I am not sure what that is supposed to mean, but paying ones bills would be a good start.