THE IMPACT OF CHINA’S “DUAL-CARBON GOAL†ON THE STOCK MARKET: EVIDENCE FROM THE PHOTOVOLTAIC INDUSTRY

Chuangye Yan (), Mingjun He, Fang Li and Lili Zhu
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Chuangye Yan: School of Management, Qingdao City University, 79 Tieqishan Road, Chengyang District, Qingdao, Shandong 266106, P. R. China
Mingjun He: School of Management, Qingdao City University, 79 Tieqishan Road, Chengyang District, Qingdao, Shandong 266106, P. R. China
Fang Li: School of Management, Qingdao City University, 79 Tieqishan Road, Chengyang District, Qingdao, Shandong 266106, P. R. China
Lili Zhu: ��School of Business, Shenandoah University, 1460 University Drive, Winchester, VA 22601, USA

Climate Change Economics (CCE), 2025, vol. 16, issue 04, 1-8

Abstract: After the Chinese government’s announcement to achieve the goal of “carbon peaking and carbon neutrality†, the solar photovoltaic power generation industry in the country has experienced rapid development. This paper examines the impact of China’s “dual-carbon†goal on the country’s photovoltaic industry. Photovoltaic companies listed on the stock market are selected and the stock price data of these selected companies from June 1, 2020 to January 28, 2022 are tested for potential structural changes. The paper adopts the Quandt–Andrews test and the results show that the four selected companies have indeed undergone structural changes within one year after the announcement of the dual-carbon goal, and that the demand for photovoltaic power generation equipment has increased significantly. Finally, some suggestions are put forward for enhancing the photovoltaic industry after the COVID-19 pandemic.

Keywords: Carbon neutrality; carbon peaking; photovoltaic industry; stock markets; China (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1142/S2010007824400062

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