Wang Xinghua has been in contact with the National Export-Import Bank for several months, hoping to obtain a higher level of credit loans to provide financial support for obtaining more solar photovoltaic power plants abroad. "Chinese banks have always emphasized the size of enterprises when issuing loans, and foreign banks also value the company's technical strength and market share." Wang Xinghua Chairman of Zhongsheng Optoelectronics Group, the company has many photovoltaic power station projects in Italy, Germany and other European countries Relying on local banking facilities, Wang Xinghua still wants to add the financial tool "national team". It is reported that photovoltaic rookies like Wang Xinghua are not rare, and after the polysilicon was named by the State Council in September 2009, the photovoltaic industry has once again won the favor of financial capital. On April 2nd and 6th, Jiangsu Branch of China Development Bank signed a strategic cooperation agreement with Trina Solar and Suntech. Trina Solar and Suntech received loan support of 30 billion yuan and 50 billion yuan respectively. The 80 billion yuan loan credit is 8 times the total amount of 10 billion yuan credit support granted by the CDB to the Jiangsu photovoltaic industry as of the end of 2009. "In the future, China is still expected to obtain the pricing power of photovoltaic cells. The main advantage is that China's manufacturing costs may be the lowest in the world." Sun Guangbin, head of the photovoltaic product branch of the China Electromechanical Chamber of Commerce revealed the cause: due to the improvement of the economic situation and the Resuming the start, this year's export situation of China's photovoltaic industry will be better than last year. In 2009, China's export of photovoltaic products was US $ 15.44 billion, an increase of 147.75% year-on-year; the China Chamber of Commerce for Import and Export of Mechanical and Electrical Products predicted that global solar photovoltaic demand would increase by 25% in 2010. For a Chinese photovoltaic company that exports 98% of its products, does the description "better than last year" mean that the export growth rate in 2010 will exceed the 150% barrier? Second-degree vertical photovoltaic industry It is not only Suntech and Trina Solar that won the favor of banking companies, but photovoltaic companies such as Emei Semiconductor Materials Factory and Yingli have recently become the guests of the financial market. On March 1, Emei Semiconductor Materials Factory and BOC Leshan Branch signed a comprehensive strategic cooperation framework agreement to obtain the bank ’s 594 million yuan project loan; Yingli announced in March that it will start construction of a “panda†with an annual capacity of 300 MW at Baoding headquarters "Single Crystal's complete industrial chain production line, and at the same time obtained loans of up to 1.5 billion yuan and 250 million yuan of working capital loans from the Bank of Communications Hebei Branch. "Looking forward to 2010, the global photovoltaic market will continue to show growth. Based on the large number of orders and purchase intentions we have received, we have decided to carry out strategic expansion and have also received financial support from financial institutions." Yingli Group Chairman and Chief Executive Officer Executive Miao Liansheng said. Yingli Group's expansion plan with a large number of orders in hand also made many banking companies flock. In addition to the above-mentioned loans, Bank of Communications provided Yingli with two other credit lines of US $ 100 million and US $ 4,400. The Export-Import Bank of China and Yingli renewed a credit line with a total value of 1 billion yuan, and converted a total of 117 million US dollars of working capital loans into long-term credit. In the capital market, Yingli successfully issued 18.39 million American depositary receipts in the United States, with a total financing of US $ 230 million. In an interview with this newspaper on April 8th, Yingli No.1 said that the support of the local banks for the photovoltaic industry has recently been strengthened. In addition to the recent national credit policy, the main thing is that the photovoltaic industry is optimistic about the prospects. Especially after the real estate policy has cooled down, "more loans are transferred to the real economy." "This year's loans to photovoltaic companies should be easier than last year." An LDK executive at Savi said that most of the $ 4 trillion in investment in 2009 entered the infrastructure industry, and this year the country has reduced the scale of investment in infrastructure and real estate markets. The photovoltaic market is in a recovery and rising stage. For example, 156 × 156 polysilicon wafers have now risen to about 3.45 US dollars, which is a 5% increase from the 3.3 dollars three weeks ago. "This kind of increase was quite rare last year." A person from Bank of China Jiangsu Branch admitted that the bank's loan guidance policy for photovoltaic companies is quietly changing. The Bank of China Jiangsu Branch now has a total credit of 5 billion yuan in the photovoltaic industry. Last year, it prepared a special risk warning special issue because the industry encountered national naming, and clarified aspects such as credit product guidance strategies, credit guarantee requirements, and credit management requirements. But this year it will be much looser, "PV companies with good qualifications and large export scale will get more credit." It is worth noting that PE and venture capital were absent in the second round of capital's investment feast of hunting for the photovoltaic industry. "The hot spots of photovoltaics have passed. For venture capital and PE, there is no tens or hundreds of times of profits, and they will not chase." Wang Xinghua explained that taking the company as an example, it had previously been invested by venture capital, but the main focus of financing today Focusing on the listing, no more venture capital will be introduced. "Now this industry has become more rational and mature, companies with no prospect of going public have limited room for growth." Venture capital and PE will naturally no longer be concerned. Photovoltaic companies "go out" for the second time In 2009, the installed photovoltaic capacity was 6.6GW, a year-on-year increase of only 16%. The European Photovoltaic Industry Association (EPIA) released a report in early April 2010 that the cumulative global photovoltaic installation volume will increase by at least 40% in 2010. "Loans from Chinese banks, especially policy banks, to Suntech, Trina Solar, Yingli and other companies are actually encouraging companies to" go out "and support them to build more photovoltaic power plants abroad." Wang Xinghua analyzed Xuanji : The rigid demand in the photovoltaic market is strong. The impact of the financial crisis is the lack of liquidity funds needed for the construction of power stations. The supplement of Chinese financial companies can just expand the territory for domestic photovoltaic companies. The aforementioned Saiwei LDK executives said that this financial enterprise's support for photovoltaic enterprises to build photovoltaic power plants abroad is the second "going out". "The first is the import and reprocessing of raw materials and then the export, and this time it is to the high-end Advance, cut into the field of photovoltaic power generation. " "For financial companies, the investment income prospects are very considerable." The executive said, relying on the support of the European countries' electricity tariff law, the current power plant income is very stable, and the prospects are promising, "like Italy, part of the electricity is now from France I bought it, the price is already more expensive than the domestic photovoltaic power generation. " At the end of 2009, China's foreign exchange reserves were 23,991 billion US dollars, which has increased by 15.5 times compared with 154.6 billion US dollars at the end of 1999 in 10 years. On the other hand, the Chinese Academy of Social Sciences report pointed out that as of the end of September 2009, due to the decline in the international purchasing power of the US dollar, the losses caused to China ’s foreign exchange reserves have exceeded US $ 500 billion. "If foreign exchange is distributed among competitive enterprises in various industries, encouraging Chinese enterprises to invest abroad and obtain international resources will be more beneficial to the preservation and appreciation of Chinese assets." Wang Xinghua said. His point of view is that CIC is only an investment industry of national sovereign funds, but physical enterprises are better at investing in professional fields, and investment behaviors are more easily accepted by foreign countries. "Hanging foreign exchanges in enterprises is like hiding wealth in the people." When it comes to the photovoltaic industry, "this is a rare internationally highly competitive technology industry in China." The aforementioned Saiwei LDK executives agreed. "Chinese photovoltaic companies are highly competitive abroad. Many international companies cannot compete with China, and China's technological content is not worse than that of foreign countries. Some technologies are even internationally leading, and China's low labor costs are more advantageous." The executive gave an example. In this year's ranking of crystalline silicon battery manufacturers, Suntech has leapt to first place, while Yingli has quickly risen to third place. The above information source "Venture Investment" is authorized by the China Venture Capital Research Institute (CVCRI) to publish it. All rights reserved. Please indicate the source when reprinting. 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