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China Ming Yang Wind Power Group's CEO Discuses Q3 2011 Results - Earnings Call Transcript

The symbol of the industry restructuring is that the focus changed from speed and size to quality and efficiency. From quantitative to qualitative. Meanwhile, China is very determined to maintain the growth of the industry, as well as its size. And we strongly believe that the China government, which shows support by policy and China would continue its role of a leader in the global wind industry.

In China's government 12th-five year plan is that we need to reach the 100 gigawatt goal. And during the five years from 2011 to the first half of 2013, the wind industry is going to experience further integration and transformation. And we believe that during that period, the industry growth rates will be 15 to 18 gigawatts per annum.

And for the rest three years, the growth rates will exceed 25 gigawatts per annum. Only by doing -- only by doing so that we can realize the goals put forward by the Chinese government, as well as China’s promise to the world that non fossil fuel energy consumption will reach 15% of all energy consumption.

In order to fully implement this initiative, China's government has setup standards for the wind turbine, as well as wind farms, tariff stabilizing mechanism. And also, China plans to build a couple of regional carbon trading platforms in areas such as northern China, eastern China, and southern China, as well as west, north.

And in this way, China can go CDM exchange platform so that China can maximize capital resources to boost China's wind power growth. Meanwhile, to ensure the successful transformation of the wind power industry from speed and size to quality and efficiency.

We can see that the Chinese government has taken -- implemented two initiatives to ensure the successful growth of China's wind industry, first of all, continued support in the areas with rich wind resources, such as areas in the northwest, and continued effort on building grid transmission network.

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