High voltage lines are seen in Dalian, Liaoning Province, China, August 13, 2021. /CFP
China, the world's largest producer of electricity, will form a new central state-owned power equipment group.
Four listed state-owned electricity companies announced on Tuesday that they have received approval from the State Council of their consolidation to establish a new power equipment company.
According to Caixin, the new company, named China Power Equipment Group, will be registered in Xiong'an, which has been designed to become a smart city in North China's Hebei Province.
The integration will not change the four companies' controlling shareholder and actual controller, said the companies.
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