China’s Power Reforms: Has the Moment Passed?

Editors’ note: This story is the third of a three-part-series titled China's Power Reforms, where Caixin looks at efforts to marketize the electricity sector and establish a unified power market. Read part one and part two.

To understand the challenge of unifying China’s electricity market, it is important to understand its fractured structure.

Alongside 33 provincial-level electricity trading centers, China has two national power exchanges. One, in Beijing, deals with the interprovincial and interregional electricity trading in the operating area of the State Grid Corp. of China. The other, in Guangzhou, covers that of the China Southern Power Grid Co. Ltd.