Hanergy Relied on Chinese Backing in Solar Firm's Meteoric Rise

Hanergy Thin Film Power Group Ltd., the Chinese solar maker under probe by Hong Kong regulators, rode a wave of government subsidies and support as it grew from a bit player into the world’s largest solar company by market value.

Hanergy’s website features several pictures of Chairman Li Hejun meeting with government officials, and Li himself has been a member of the Chinese legislature’s top advisory body since 2008. In that role, he encouraged the government to cultivate innovative industries like his own.