BEIJING May 27 The State Grid Corp of China
, the country's dominant power grid operator, will
open two of its business sectors to new investors, including
private and non-state companies, state media said on Tuesday.
The two sectors, which cover distributed power grids and
electric vehicle charging equipment, have an estimated market
value of 200 billion yuan ($32 billion), the official news
agency Xinhua quoted State Grid representative Wang Yanfang as
Successful investors will help State Grid build new electric
vehicle charging stations in Beijing, Tianjin and Hebei in
northern China and the Yangtze River Delta -- a prosperous
region in southern China that is made up of Shanghai, Zhejiang
and Jiangsu, China Business News said in a separate report.
The move is part of Beijing's latest effort to promote state
enterprise reform and increase private participation in China,
where the main parts of the economy remain in the hands of large
To increase privatisation, Chinese Premier Li Keqiang said
in March that the telecoms, banking, oil, electricity, railway,
resource development and utilities sectors will be open to
In State Grid's case, the move to attract "social capital",
which includes mixed-ownership companies, such as state-owned
firms with non-state shareholders, may not necessarily lead to a
significant shift into private ownership.
State Grid transmits and distributes power to 1.1 billion
people across nearly 90 percent of China.
State-owned China Telecom Corp Ltd, China's
third-largest carrier, was also reported by Chinese media
earlier this month to be seeking private investment to develop
new businesses such as social networking and an online payment
($1 = 6.2392 Chinese Yuan)
(Reporting by Koh Gui Qing; editing by Keiron Henderson)