Caixin
Dec 27, 2021 07:27 PM
BUSINESS

China’s State Assets Regulator Takes Control of Southern Power Grid With Stake Hike

What’s new: The State-owned Assets Supervision and Administration Commission (SASAC), the central government’s state assets regulator, has raised its stake in China Southern Power Grid Co. Ltd. to 51% from 26.4% as part of the company’s new ownership restructuring plan aimed at improving corporate governance.

The ownership change was announced at a company conference that Southern Power Grid held Saturday to talk about how it could achieve high quality development by optimizing its ownership structure. The restructuring plan, approved by the State Council, can be seen as an important measure to promote the development of China’s power industry and ensure the country’s energy security, SASAC Chairman Hao Peng said.

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