THE IMPACT OF CHINA'S "DUAL-CARBON GOAL" ON THE STOCK MARKET: EVIDENCE FROM THE PHOTOVOLTAIC INDUSTRY

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.