China's Ministry of Industry and Information Technology announced on Wednesday certain revisions to the previous photovoltaic manufacturing industry standards, raising the minimum proportion of investment that must be funded by shareholders' own capital to 30 percent.

Previously, the 2021 regulations for the photovoltaic manufacturing industry set a minimum ratio of 30 percent for new and expanded polysilicon projects, and 20 percent for other new and expanded photovoltaic projects.

The ministry said these updates aim to guide local authorities in reasonably planning photovoltaic manufacturing projects based on resource endowments and industrial foundations, while promoting intensive and clustered industrial development.

The revised guidelines encourage photovoltaic companies to focus on technological innovation, product quality improvement, and production cost reduction, rather than merely expanding capacity.