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The state energy group was formally established

Date:2018-06-08 10:22:17
In November 28th, the reorganization of the national energy investment Refco Group Ltd (abbreviated as the National Energy Group) was held in Beijing, which was reorganized by the China National Electricity Group and Shenhua Group.

The new national energy group has four "the world's most" - the largest coal production company, the largest thermal power generation company, the largest renewable energy generation company and the largest coal oil coal chemical company.

"This is a major move by the SASAC and the central enterprises to carry out the nineteen spirit of the party, which marks the key step for China to build a world - class enterprise with global competitiveness." Xiao Yaqing, director of the State Council's SASAC and Deputy Secretary of the Party committee, said at the founding of the national energy group.

He pointed out that over the past five years, the State Council SASAC has completed the reorganization of 18 groups of 34 central enterprises, the national energy group is the largest restructure of the central enterprise.

According to the introduction, the state energy group has more than 1 trillion and 800 billion yuan in assets, more than 660 billion yuan in net assets, nearly 230 million kilowatts in power generation and installed, and more than 430 billion yuan in total revenue, forming eight business sectors, such as coal, electricity generation, new energy, transportation, coal chemical industry, industry science and technology, energy conservation and environmental protection, industrial finance and so on.

Xiao Yaqing stressed that the establishment of national energy group is an inevitable requirement for deepening the reform of state-owned enterprises and accelerating the optimization of the structure of the central energy enterprises. It is an important measure to implement the "four revolutions" and to effectively promote the restructuring and upgrading of the energy industry structure in China, and to deepen the structural reform, prevention and transformation of the supply side. The important measure to solve the overcapacity of coal and coal and electricity is to be an effective way to strengthen the best central enterprises and to accelerate the cultivation of the world - class energy group with the global competitiveness.
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