China’s power industry shows sustained growth

• 13 years ago (2010-09-15)
• Junior Isles

Asia 846

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China's power generation industry is set for strong growth this year, the state-run Shanghai Securities News reported, citing the country's electric power generation trade association.

Shanghai Securities News (SSN) reports, in the first six months of this year total power production grew by 30 per cent, with revenues up 31 per cent. The industry is expected to see better-than-expected growth of more than 20 per cent in output, revenues, profits, and trade by the end of year.

By the end of 2010, China's investment in the development of its power generation industry will total CNY660 billion ($97 billion), the report said, citing data from the State Grid and the China Southern Power Grid.

China's State Council, or cabinet, recently stepped up efforts to develop emerging industries that it deems to be strategically important, including new energy firms, according to SSN.

Additionally, Gold State Securities has reported that gains in the stock market for China’s power firms show that it expects the country's power industry is set for promising growth this year.

"The electricity industry, including new energy firms, has received strong policy support from Beijing. That will ensure that they continue to develop and do well over the long term," said Wu Yu, an analyst at GSS.