China's top economic planning agency said on Sunday it was taking steps to scale back subsidies for renewable energy (RE) projects after a boom in solar and wind power installations. This announcement came after China broke its own records for new solar installations in 2024, and meeting targets that were meant for 2030. Pieter E. Stek, Senior Lecturer at the Asia School of Business explains what this pullback in subsidies for the Chinese RE sector means for industry players and global supply chains.

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