Tianwei Baoding ordered to delist bonds



Chinese PV manufacturer Baoding Tianwei Baobian Electric has had its bonds de-listed from the Shanghai Stock Exchange (SSE).

The move follows the suspension of its shares a week ago.

A statement on the SSE website said the company’s “11 Tianwei Bonds” would be delisted this week.

Earlier this month Chaori Solar became the first country to default on a bond with fears that more could follow.

The Chinese government has indicated that companies will no longer be able to rely on it for support as it looks to encourage the emergence of a sustainable industry.

At the end of 2013 it published a list of 109 PV companies that would be eligible for projects under its various support mechanisms. 

In October 2013 Trina CEO Gao Jifan said local governments must stop bailing out struggling solar firms and leave the market to pick the winners.

“If we can consolidate the industry in three years so that three to five players have a combined market share of 70%, the industry will be in a much healthier state,” he told the World Energy Congress meeting in South Korea.

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