Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
State Grid
Companies and corporations

State Grid electric power corporation: development of the world’s largest state-owned structure

13.03.2023
2 min read

History of the development of the Chinese electric power company State Grid

The Chinese electric power corporation State Grid is the world’s largest state-owned company, ranking third in terms of revenues. State Grid provides services to more than 1.1 billion people in the country, providing electricity to about 88% of China’s territory.
In 1986, the Chinese government approved a program to transform the country’s electric power industry, which divided the process into three stages. It took about 30 years to implement this strategy, and the third phase began in 2002. The aim of the last package of reforms was to improve the power grid infrastructure, as well as to separate the generation and transmission sectors, which was to create competition within the market and facilitate the more efficient performance of functions. In doing so, the state electric power corporation was divided into two separate grid businesses, as well as 5 units responsible for the generation and 4 commercial independent units. One of the two main companies was State Grid, which at that time had the capacity of generating facilities in the range of 6.5 GW.Chinese company State GridAt the same time, China in the early 2000s was experiencing a difficult situation with the supply and production of electricity. To cope with the situation, the government introduced a system of rolling blackouts. According to statistics, from 2002 to 2005, the corporation experienced losses estimated at 1 trillion yuan. Despite the difficulties, the corporation continued to expand its infrastructure. In 2009, the country’s first line for the transmission of alternating current, rated at one thousand kilovolts, was installed. Three years later, State Grid commissioned a direct current line that ran from western Sichuan to Shanghai. It had 800 kilovolts and provided electricity for a wide area. In addition to these networks, the corporation also built infrastructure to provide power to the southern regions of China.
State Grid also participated in the smart grid program, which was implemented from 2011 to 2015. It involved the construction of ultra-high-voltage lines that run through major industrial regions.
The corporation also operates outside the country. It operates the electric grid in the Philippines and holds stakes in companies in Portugal, Brazil, Chile, and Australia.
In addition to implementing successful projects, the corporation has also been involved in a number of scandals. In 2014, the PRC regulator brought charges against the head of State Grid, who was suspected of bribery. As a result of court proceedings, the director’s assets of 53 billion yuan were seized, and the businessman himself was sentenced to life in prison.

Tags: Companies and corporations
0
Previous Post Golden share: an overview of the type of securities Next Post Anthony Pratt: professional path and achievements of the Australian businessman

You Might Also Like

BlackRock
Companies and corporations
BlackRock Investment Company: a reputable player on the market
17.10.2020
Reebok
Companies and corporations
Reebok: the idea that led to a successful business
15.12.2022
Deere Company-2
Companies and corporations
History of the founding and development of the Deere Company
21.11.2021
JPMorgan Chase Co
Companies and corporations
JPMorgan Chase Co – a giant in the market of financial services
18.08.2020
DHL express delivery
Companies and corporations
DHL: the story of the world’s leading express delivery company
06.04.2023
Walgreens Boots Alliance
Companies and corporations
Walgreens Boots Alliance Pharmacy Corporation of the U.S.: overview of operations
03.08.2021

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Spain’s economy performs best in the EU
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics