China is expected to offer government subsidies to enhance the development of its domestic photovoltaic market, according to a report from Reuters. The move will help the People's Republic of China tap more clean and new energy, the Finance Ministry said.
China has said it is considering investing more than 3 trillion yuan ($440 billion) in the renewable energy sector by 2020, although detailed plans have yet to be fleshed out.
"Fiscal subsidies will be offered to speed up the launch of the domestic photovoltaic market," the ministry said in a statement posted on www.mof.gov.cn.
News article from Forbes