China will issue a five-year proposal to guide the country's renewable energy development, in which the goal for installed generating capacity of photovoltaic (PV) power is set at 10 gigawatts, China Securities Journal reported.

The report said the draft for the 12th Five-Year Plan period (2011-2015) has been submitted to the State Council for approval. The goal for solar power capacity generation is double that submitted in an earlier version.

Industry insiders said the plan also will promote the related industries such as polycrystalline silicon and PV component sectors, the newspaper reported.

The insiders also said China should give support to its PV industry and expand the domestic market, because it relies heavily on exports and will lose competitiveness when the importing country gives subsidies to its domestic PV sector.

Source: China Daily