The Chinese Ministry of Industry and Information Technology (MIIT)
Image: 維基小霸王, Wikimedia Commons, CC BY-SA 4.0
By ESS news
At its meeting on November 28, China’s Ministry of Industry and Information Technology (MIIT) pledged to accelerate the implementation of targeted policies and measures to curb “irrational competition” in the energy and battery storage industries.
Oversupply and aggressive bidding have eroded margins in China’s energy storage market, threatening the viability of numerous players. In response to this industry voices in the world’s largest energy storage manufacturing center have advocated price controls, higher standards and reforms that would ensure quality and long-term stability.
During the Friday meeting with executives of a number of battery manufacturers, Minister Li Lecheng emphasized that the Party Central Committee attaches great importance to the development of the energy and energy storage battery industry. He stressed the need to comprehensively assess the current situation and implement guidelines that address “involutionary” competition.
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