A new central state-owned enterprise worth hundreds of billions has emerged – China Electrical Equipment Group Corporation

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A new central state-owned enterprise worth hundreds of billions has been established – China Electrical Equipment Group Co., Ltd. According to a announcement on the website of the State-owned Assets Supervision and Administration Commission, with the approval of the State Council, China Electrical Equipment Group Co., Ltd. was founded. The State-owned Assets Supervision and Administration Commission shall perform the duties of the investor on behalf of the State Council, and this company is included in the list of enterprises for which the Commission assumes such investor responsibilities. **The related enterprises under the Power Grid Corporation Limited, as well as China West Electric Group Co., Ltd., have been fully incorporated into China Electrical Equipment Group Corporation. China West Power Group Co., Ltd. is no longer an enterprise for which the State-owned Assets Supervision and Administration Commission of the State Council performs its duties as the investor. China Electric Equipment Group Co., Ltd. was formed through the restructuring and integration of China West Power Group, along with Xujie Group, Pinggao Group, Shandong Electric & Electrical Group, which are part of power grid companies, as well as Jiangsu NARI Hengchi, Jiangsu NARI Taishida, and Chongqing NARI Borui. Upon completion of the restructuring, China Electric Equipment’s business scope will cover areas such as power generation (including new energy), power transmission, power transformation, power distribution, and power consumption. It will also encompass other fields such as comprehensive energy services, energy storage, rail transit, industrial automation, and the energy internet, as well as strategic emerging industries along the entire industry chain. It will become the largest, most comprehensively developed, and most capable manufacturer of AC and DC electrical equipment across all voltage levels in China’s power transmission and distribution sector. In particular, it holds international leadership advantages in areas such as ultra-high voltage AC and DC switches, transformers, and converter valves. The electrical equipment industry is a vital asset for ensuring energy security and a stable supply of energy. China Electric Equipment Group will seize the opportunities presented by the goals of achieving carbon peak and carbon neutrality as well as the development of new power systems. It will focus on the development of next-generation power transmission and distribution technologies, new energy sources, and energy internet solutions. Aiming to become a \"leader in electrical technology, a driver of the energy revolution, and a practitioner of green development,\" the group is committed to becoming a \"world-class smart electrical services provider.\" China Electrical Equipment Group has a registered capital of 100 million yuan, and its registered address is in Jing’an District, Shanghai. Bai Zhongquan serves as the Party Secretary and Chairman of China National Electrical Apparatus Corporation. On September 25, the founding ceremony of China National Electrical Apparatus Corporation was held in Shanghai. At the founding ceremony, on the same day, the Shanghai People’s ** and China National Electrical Apparatus Corporation signed a strategic cooperation agreement. Both parties will make full use of the advantages held by China National Electrical Apparatus Corporation in strategic industries such as electrical equipment, advanced energy storage, clean energy generation and grid connection, as well as offshore wind power. They will work together to bring together the group’s innovative development resources in Shanghai, aiming to create a world-class advanced manufacturing cluster. **Xin Baoan, Secretary of the Party Leadership Group and Chairman of the Power Grid Company Limited, and Bai Zhongquan, Secretary of the Party Committee and Chairman of China National Electrical Apparatus Corporation, delivered speeches. Photo of Xin Baoan delivering a speech. In his speech, Xin Baoan pointed out that, as we move forward to a new stage of development, it is necessary to implement new development concepts and build a new development pattern. We must accelerate the establishment of a clean, low-carbon, safe, and efficient energy system, and promote the development of a new type of power system centered on new energy sources. This places new and higher demands on the innovative development of China’s power industry and electrical equipment manufacturing sector. The establishment of China Electrical Equipment Group comes at an opportune time and carries a significant responsibility. “During the 14th Five-Year Plan period and for a considerable time to come, **power grid companies will accelerate their efforts to become internationally leading energy internet enterprises with Chinese characteristics. We are willing to work together with China National Electrical Apparatus Corporation to enhance exchanges and deepen cooperation. By making full use of Shanghai’s advantages as a global center for scientific and technological innovation, we will carry out joint efforts in technological innovation and the development of key equipment, and work together to overcome the technical and equipment challenges associated with the construction of new power systems. This will help make positive contributions to China’s transition toward cleaner and lower-carbon energy use and the achievement of the \"dual carbon\" goals. According to archival photos of Bai Zhongquan, he stated in his speech that as a newly established central state-owned enterprise, China Electrical Equipment Group faces unique development opportunities and bears a brand-new historical mission. China Electrical Equipment Group will keep the interests of the nation at heart, earnestly implement the series of directives issued by **** regarding the development of the high-end equipment manufacturing industry. It will seize the opportunities presented by the goals of achieving carbon peak and carbon neutrality as well as by the construction of new power systems. Focusing on the development of next-generation power transmission and distribution systems, new energy sources, and energy internet platforms, the group aims to become a leader in electrical technology, a driver of the energy revolution, and a practitioner of green development. With firm determination and a belief in success, it will unite the efforts and wisdom of all its employees, make full use of synergistic effects, accelerate integration and consolidation, and strive to turn the new group into a model for reform and restructuring, a hub for technological innovation, and a new representative of Chinese brands. The goal is to build a world-class enterprise that excels in its core business areas, plays a significant role, and provides strong support for economic development