Beijing has given the green light for the formation through merger of a central government-controlled electricity transmission and distribution equipment giant, as part of a reform of industry and state-owned enterprises to drive efficiency.
The move, which involves the consolidation of XJ Group and six units under dominant power distributor State Grid Corporation of China, will create a company with more than 100 billion yuan (US$15.5 billion) in assets according to state media reports.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
