China Polysilicon Makers Plan $7 Billion Fund to Ease Glut

Chinese polysilicon makers are planning to set up a fund to retire production units of the key element used for solar panels, in an effort to ease the industry’s overcapacity.

Companies including GCL Technology Holdings Ltd. would use the fund of at least 50 billion yuan ($7 billion) to buy and shut down more than one million tons of polysilicon capacity, GCL’s Investor Relations Director Jun Zhu said in an interview on Thursday.