A solar panel manufacturer is planning to liquidate a solar panel manufacturing company, which is based in China.
Solar panel manufacturer, Chingyuan Solar Co., is also going to liquidates a subsidiary, Tiantai Solar Co.
The company has been liquidating the business and the company is set to announce the company’s liquidation on Monday.
The company is still looking for investors.
The Chinese government is looking for foreign investors to buy up a minority stake in Tiantei Solar Co, which will help it finance the company, according to a report by Bloomberg News.
China’s top financial regulator, the Central Securities Commission, said in July that it has set up a joint venture to buy Tiantaix, which it has previously been seeking to acquire.
China is planning a $3.3 trillion stimulus package to help the country meet its 2020 economic goal of 3.5 percent.
China’s solar industry has been hit hard by the global downturn and its reliance on coal, which has been declining for years.
Solar panels can make up for that loss, and the cost of the technology is now dropping, as it gets cheaper.
In 2018, China became the world’s largest solar installer.
The country installed more than 7 gigawatts of solar panels in 2020.