摘要

The photovoltaic industry in China has exhibited remarkable growth in recent years, ranking first in production volume, yet its production efficiency remains low. We analyzed 34 listed photovoltaic firms in China and found that their R&D investment efficiencies are significantly below the efficient frontier. Shortage of R&D staff and insufficient R&D expenditure are the key issues responsible for this phenomenon. We posit that the efficiency of Chinese photovoltaic firms can be improved by innovation the existing technology, developing downstream business, and introducing new products.