The China government on September 29 announced that it will offer tax breaks to manufacturers of solar power products. The country's Ministry of Finance announced this and said in a short statement on its website that producers of solar power products will receive immediate refunds of 50 per cent of value-added taxes.
The National Development and Reform Commission provided subsidies for solar power stations in late August. China's bloated photovoltaic industry still faces a grim outlook as many companies are deeply mired in debts, said a report on the official Xinhua news service discussing the announcement.