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State Grid Corporation of China
Release time:
2019-04-28
State Grid Corporation of China is a state-owned, wholly-owned enterprise directly managed by the central government, established in accordance with the Company Law. It is a super-large, key state-owned backbone enterprise that plays a vital role in the lifeline of the national economy and national energy security. The company’s core business revolves around investing in, constructing, and operating power grids, and it shoulders the fundamental mission of ensuring a safe, economical, clean, and sustainable electricity supply. China’s electric power industry has a history spanning 140 years. Since the founding of the People’s Republic of China in 1949, the management system of the electric power industry has undergone numerous transformations, passing through the Ministry of Fuel Industry, the Ministry of Electric Power Industry, the Ministry of Hydropower, and the Ministry of Energy, before finally establishing the Ministry of Electric Power Industry in 1993. In 1997, the State Grid...
State Grid Corporation of China is a state-owned, wholly-owned enterprise directly managed by the central government, established in accordance with the Company Law. It is a super-large, key state-owned backbone enterprise that plays a vital role in the national economy and ensures national energy security. The company’s core business revolves around investing in, constructing, and operating the power grid, and it shoulders the fundamental mission of guaranteeing a safe, economical, clean, and sustainable electricity supply.
China’s electric power industry has a history of 140 years. Since the founding of the People’s Republic of China in 1949, the management system of the electric power industry has undergone several transformations, passing through the Ministry of Fuel Industry, the Ministry of Electric Power, the Ministry of Hydropower and Electric Power, and the Ministry of Energy, before finally establishing the Ministry of Electric Power in 1993. In 1997, the State Power Corporation was established and began operating under a “two牌子, one班子” model—meaning it used two separate names but shared the same leadership team with the Ministry of Electric Power. In 2002, the State Council implemented a reform of the electric power system, deciding to reorganize certain enterprises and institutions formerly part of the State Power Corporation into the State Grid Corporation. In 2017, the State Council launched a restructuring initiative aimed at transforming centrally-administered enterprises into corporate entities. As a result, the company was entirely reorganized from a publicly-owned enterprise into a wholly state-owned enterprise and its name was changed to “State Grid Corporation of China.”
The company’s operating area covers 26 provinces (autonomous regions and municipalities), accounting for more than 88% of China’s land area, and its power supply services reach over 1.1 billion people. The company’s registered capital is 829.5 billion yuan, with total assets amounting to 3,808.83 billion yuan. It operates steadily in assets located in countries and regions including the Philippines, Brazil, Portugal, Australia, Italy, Greece, and Hong Kong, China. For 13 consecutive years, the company has been rated as an A-level enterprise in the performance assessment of central enterprises. From 2016 to 2018, it consistently ranked second on Fortune’s Global 500 list and first among China’s Top 500 enterprises, making it the world’s largest utility company.
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