China

Yicai Global | English | News | Dec. 12, 2025 | UndeterminedSupply Chain Issues

Nine major Chinese solar-grade polysilicon producers, including Tongwei Group and GCL Group Holdings, have formed a joint venture called Guanghe Qiancheng Technology with registered capital of CNY3 billion (USD425 million) to address overcapacity and stabilize prices. The venture, based in Beijing, also includes an entity fully owned by the China Photovoltaic Industry Association (CPIA). Tongwei and GCL own nearly half of the equity, with stakes of 30.35 percent and 16.79 percent respectively.

Solar polysilicon prices peaked in August 2022 but then plummeted by nearly 90 percent by July 2025 due to a surge in production capacity, resulting in a severe price war. After the JV announcement, spot prices recovered approximately 50 percent from their multi-year low, reaching CNY52,000 (USD7,362) per ton as of December 8. The joint venture aims to promote cooperation among photovoltaic companies, facilitate technology upgrades, expand markets, and rationalize costs and production capacity to end destructive competition.

The JV’s legal representative is Hou Yicong, founder of Chunquan Capital, who brings experience from ShineWing Certified Public Accountants, IDG Capital, and JD Capital. Other equity holders include East Hope, Daqo Energy, Xinte Energy, and Asia Silicon Qinghai, each owning between 7.79 percent and 11.3 percent, with smaller stakes held by three additional companies and the CPIA subsidiary. The industry is actively seeking orderly capacity reduction to stabilize supply and demand.

海关总署原副署长孙玉宁被判13年

Beijing News | Local Language | News | Dec. 12, 2025 | Political Scandal or Corruption

On December 10, 2025, the Hefei Intermediate People’s Court sentenced former Deputy Director of the General Administration of Customs Sun Yuning to 13 years in prison and fined him RMB 4 million for bribery. Additionally, the bribery proceeds and accrued interest seized during the case, totaling over RMB 50.72 million, were ordered turned over to the state treasury, with any remaining amount to be recovered.

Between 2005 and 2024, Sun Yuning abused his multiple leadership roles within the customs system to assist organizations and individuals in business operations, project contracting, job promotions, and placements after transfer. He accepted substantial bribes directly or through others in exchange for these favors. Despite the severity of the crime, the court considered mitigating factors such as his confession, remorse, cooperation, and the recovery of most illicit gains when determining his sentence.

Sun Yuning was publicly tried on September 19, 2025, with evidence presented by the prosecution and cross-examined by the defense. He admitted guilt and expressed remorse in court. His investigation began on September 24, 2024, and he was expelled from the Communist Party and removed from office on March 14, 2025, following findings of serious misconduct including violation of Party regulations, abuse of power for personal gain, improper acceptance of gifts and travel, and unethical behavior combining money and sex.

Throughout his career, Sun held various key customs positions, culminating in his 2020 appointment as Deputy Director of the General Administration of Customs. The disciplinary actions against him were decided by the CPC Central Committee and the National Supervisory Commission, reflecting the gravity of his violations and their adverse impact.

China Daily | English | News | Dec. 12, 2025 | UndeterminedBizdev-Partnering

China has officially launched its first joint venture dedicated to aero engine maintenance, repair, and overhaul (MRO) in the Beijing Capital International Airport Economic Zone. The joint venture, Beijing Aero Engine Services Co Ltd (BAESL), is a partnership between Air China and Rolls-Royce, each holding a 50-percent stake. This facility represents Rolls-Royce's fourth MRO JV and the first of its kind in mainland China, focusing on servicing high-thrust engines such as the Trent series.

BAESL plans to start overhaul work on several engine types, including the Trent 700, Trent XWB-84, and Trent 1000, beginning in 2026. The company targets achieving an annual output of 250 overhauled engines by 2034. The joint venture aims to enhance maintenance reliability and efficiency for Air China’s fleet while supporting Rolls-Royce’s 2030 goals for global MRO capacity expansion and localized growth.

The Beijing Capital International Airport Economic Zone, where BAESL operates, is a significant aviation hub that hosts over 20 maintenance enterprises. These companies generate approximately 14 billion yuan in annual industrial output, representing about 20 percent of China’s national total in this sector.