China announced it will increase subsidies for solar companies by $1.11 billion (7 billion yuan), according to multiple news outlets.
Solar company stocks are surging on the news, including:
- JA Solar Holdings, +17 percent
- LDK Solar Co., +16 percent
- Yingli, +19 percent
- Suntech, +12 percent
Even Arizona-based First Solar is up 5 percent.
The new infusion brings China's total solar subsidies for 2012 to $2.08 billion, according to Xinhua.
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