Chen said the attractiveness of Europe as a market is diminishing because the bargaining ability of clients in such a saturated market is "astonishing". In addition, "Europe is not where we can sell at the highest price".
He said opportunities lie in emerging markets, such as countries in Africa, Southeast Asia and the Middle East, where there is less competition and customers attach more importance to service than to price.
Chen also expressed his confidence in Jinko's stock price, which "should be three to five times its current level in the next two years."
The aggregate market value of nine US-listed Chinese solar power companies reached its highest at $32 billion in 2007. But today, even with two more listed companies, their total value has dropped by 90 percent amid overcapacity and recessions in the major markets.
"Overcapacity is part of a maturing process for any industry," said Gil Forer, Ernst & Young's Global Cleantech leader.
Forer said Chinese companies should make bolder moves in the overseas market. "We believe we'll see more overseas acquisitions by Chinese firms," he said.
As the solar-power industry in Western Europe experiences problems from diminished government support, Forer said that is where many of the acquisition opportunities will come from.
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