China Steps Up Reform of Electric Power System

Home>>Business

Last updated at: (Beijing Time) Thursday, May 09, 2002

China Steps Up Reform of Electric Power System

China will intensify reforms to break up the State-monopoly of the electricity supply system in order to cut costs and raise efficiency.

DISCUSSION

CHINESE

SEND TO FRIEND

China will intensify reforms to break up the State-monopoly of the electricity supply system in order to cut costs and raise efficiency.

The reform will include restructuring State-owned assets, implementing a new pricing mechanism and bettering the regulation of the electricity industry, Xie Songlin, vice-president of the State Power Corporation, said Wednesday at the Annual Meeting of the Asian Development Bank (ADB) in Shanghai.

At present, the State Power Corporation owns 46 percent of the country's total electricity generation assets, and 90 percent of the total electricity supply assets.

The reform will divide most of the electricity generation sector from the corporation and set up five independent national power plants, according to Xie.

After the restructuring, a national power network corporation will be established, and five regional subsidiaries will be affiliated to the national corporation in north, northeast, northwest, east and central China.

A separate power network company for south China will be set up, said Xie.

He added that a more appropriate electric pricing system will come into being in the foreseeable future.

Since the founding of the State Power Corporation five years ago, the sale volume of electricity has increased 26 percent, and the net profit has grown 40 percent, according to Xie.

In 2001, the corporation ranked the 77th among the world top 500 companies.

Questions?Comments? Click here

China to Speed Up Reform of Power Sector

Carl Marx Still Remembered by Chinese ( 58 Messages)

Protests Prompt Retailer to Pull T-shirts Mocking Chinese-Americans ( 280 Messages)

Jiang Calls for Joint Efforts Towards Growth of Sino-US Ties ( 147 Messages)

Know Who to Love, Who to Hate ( 290 Messages)

"Washington Times" at Anti-China Tricks Again ( 103 Messages)

China's Economy to Grow Above Six Percent ( 71 Messages)

China's First Magnetic Suspension Test Track Built ( 53 Messages)

Harvard Project in China Violates Farmers' Rights ( 3 Messages)

Spirit of May 4 Movement Still Inspires Chinese Youth ( 25 Messages)