Business丨Solar power firms address price pressure

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Two major photovoltaic companies vowed on Tuesday to cut production volume as the industry navigates through supply-demand imbalances and excess outdated capacity, leading to intense price-centered competition. Experts deem output management and technological innovation as crucial for companies to forge unique competitive advantages in the face of intense price competition in sectors like solar power. They also anticipate the rollout of a broader set of financial tools to alleviate financial pressure on firms resulting from their investments in innovation. The remarks came after addressing problems stemming from hyper-competition was discussed for the first time at the recent Central Economic Work Conference as one of the key priorities for the upcoming year. ▲ The booth of Tongwei Co Ltd during an expo in Shanghai. Photo/China Daily In answering the government's call, solar power firms Tongwei Co Ltd and Daqo Energy announced on Tuesday they would scale back output volume on certa ………………………………