中国光伏行业出口增值税退税下调：短期盈利承压，但加速长期行业整合-China Solar Sector Export VAT Rebate Cut Hurts Near-Term Earnings but Accelerates Long-Term Industry Consolidation

Flash | 11 Jan 2026 15:47:32 ET │ 10 pages China Solar Sector Export VAT Rebate Cut Hurts Near-Term Earnings but Accelerates Long- Term Industry Consolidation CITI'S TAKE On 9 January 2026, Ministry of Finance and State Taxation Administration of PRC jointly released the Announcement Regarding the Adjustment of Export Tax Rebate Policies for Photovoltaic and Other Products (News.cn, 9 Jan). The export VAT rebates for solar products (ex-inverters) will be abolished (from 9% now) from 1 April 2026, and the ex ...