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Incentives for wind, solar power reduced

The preferential rate the Chinese government offers wind and solar power developers to reflect the decline in construction costs will be reduced, according to the nation's top economic regulator. Tariffs for newly built onshore wind farms will be cut by as much as 4 percent in 2016 from current levels and by another 6 percent in 2018 from 2016 tariff levels, according to the National Development and Reform Commission. Reductions for new solar power projects will be as much as 11 percent in 2016.