Native name | 中国电力投资集团公司 | ||||||
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Type | State-owned enterprise | ||||||
Industry | Public utility | ||||||
Predecessor | China Power International Holding | ||||||
Founded | 31 March 2003 | ||||||
Founder | SASAC | ||||||
Defunct | 2015 | ||||||
Fate | Merged with State Nuclear Power Technology | ||||||
Successor | State Power Investment Corporation | ||||||
Headquarters | , China | ||||||
Area served | Mainland China | ||||||
Key people |
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Products | Power generation | ||||||
¥ billion RMB 1.442 (2014) | |||||||
Total assets | ¥680.388 billion RMB (2014) | ||||||
Total equity | ¥ billion RMB 44.439 (2014) | ||||||
Owner | State-owned Assets Supervision and Administration Commission | ||||||
Subsidiaries |
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Chinese name | |||||||
Simplified Chinese | 中国电力投资集团公司 | ||||||
Traditional Chinese | 中國電力投資集團公司 | ||||||
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Abbreviation | |||||||
Simplified Chinese | 中国电力投资 | ||||||
Traditional Chinese | 中國電力投資 | ||||||
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Second abbreviation | |||||||
Simplified Chinese | 中电投 | ||||||
Traditional Chinese | 中電投 | ||||||
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Website | www | ||||||
Footnotes /references in consolidated financial statement [1] |
China Power Investment Corporation also known as CPI Group was one of the five largest state-owned electricity producers in mainland China. It was administrated by the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council. It was engaged in development,investment,construction,operation,and management of power plants and power generation in twenty-seven Chinese provinces. It supplies approximately ten percent of the country's electricity.
China Power Investment Corporation was the parent company of 4 listed companies,China Power International Development,China Power New Energy Development (later became joint-significant shareholder,after China Three Gorges Corporation acquired the share of that company),Shanghai Electric Power and Yuanda Environmental Protection. The group also significantly owned Jilin Electric Power.
It was merged with the State Nuclear Power Technology Corporation to form the State Power Investment Corporation in 2015.
The predecessor of China Power Investment Corporation,China Power International Holding Limited (Chinese :中國電力國際有限公司; lit. 'China Power International Co.,Ltd.';CPIH),was a "window company" of the Ministry of Power Industry [2] that was incorporated in 1994 in the British Hong Kong as a special-purpose vehicle that was formed to finance the Ministry through international capital market. [3] In 1998 CPIH became a subsidiary of a mega-conglomerate,the State Power Corporation of China, [3] which replacing the commercial function of the Ministry. [4]
In 2002,the State Power Corporation of China was dismantled [5] as groups of companies of power grid (such as State Grid Corporation of China and China Southern Power Grid) and power plants (such as the big five power groups,China Huaneng Group,China Huadian,China Datang,China Guodian and China Power Investment). China Power International Holding became a subsidiary of newly formed China Power Investment Corporation instead. In the same year the former leader of the State Power Corporation of China,Gao Yan had fled China after being investigated for corruption. [6] [7] The formal approval of the formation of China Power Investment Corporation was on 2 February 2003,at first it had 5 wholly owned first-tier subsidiaries. [8] The formation date on the legal person certificate was on 31 March 2003. [1]
The new group made one of its first acquisition in July 2003,acquiring a minority stake of Companhia de Electricidade de Macau (CEM) via CPI Group's subsidiary China Power International Holding (CPI Holding). CEM was the electricity producer as well as supplied the electricity to the end user in Macau S.A.R.,China. [9]
Soon after the formation of China Power Investment Corporation as the new parent company,China Power International Holding formed China Power International Development on 24 March 2004 as another intermediate holding company of the group to list some assets to the Stock Exchange of Hong Kong on 15 October 2004. [10] [11] It was reported that the group was the only one among the big five,had a license to run nuclear power plants in China, [12] which the other licensee were state-owned nuclear power companies.
In 2005 China Power Investment Holding formed "China Hong Kong Power Development",a joint-venture company with Vertex Group and China Southern Power Grid for the preparation of electricity supply to Hong Kong. [13] [14] However,it was never materialized.
In 2007,CPI Group was one of the founders of State Nuclear Power Technology Corporation. At first CPI Group owned 10% stake.
In 2010,it was reported that Resourcehouse,a private company owned by Australian businessman and politician Clive Palmer,had signed an agreement to supply coal to China Power Investment Holding for 20 years. However,China Power Investment Corporation and subsidiaries had denied. [15] [16] Nevertheless,the "agreement" appeared in Resourcehouse's pre-IPO prospectus. [17]
China Power Investment Corporation was merged with the State Nuclear Power Technology Corporation to form the State Power Investment Corporation in 2015. [18]
China Power Investment Corporation is involved in the development of renewable energy projects. [19] : 40–41
As of 2014 [update] ,the deputy general manager of China Power Investment Corporation (CPI Group) Li Xiaolin,was also the chairman China Power International Holding,chairman and CEO of the listed subsidiary China Power International Development and chairman of associate company China Power New Energy Development. [20] [21] She is the daughter of Li Peng, [11] former Premier of the People's Republic of China from 1988 to 1998,who also served as the Ministry of Power Industry in 1981 to 1982 as well as vice-minister from 1979 to 1981. His son,Li Xiaopeng,was the CEO of China Huaneng Group. Li Xiaolin joined China Power Investment Holding,the predecessor of China Power Investment Corporation at the date of foundation in 1994.
The last general manager of CPI Group was Lu Qizhou who retired after the merger,despite still served as a member of the national committee of Chinese People's Political Consultative Conference. Among the deputy general managers,Meng Zhenping (Chinese :孟振平) was remained in the successor State Power Investment Corporation in 2015 after the merger as general manager, [22] while Li Xiaolin was re-appointed to China Datang Corporation. [23] The remaining 5 deputy general managers of CPI Group, [24] 3 of them were remained in the successor in 2015; [25] which Zou Zhengping (Chinese :邹正平) was appointed as a director of Dongfeng Motor Corporation instead. [26]
The CPI in conjunction with the Burmese government is constructing the Myitsone Dam, a large dam that when completed by 2017 is estimated to produce 3,600 to 6,000 megawatts of electricity for the Yunnan province. [31]
Cheung Kong (Holdings) Limited, is a multinational conglomerate, based in Hong Kong. It was one of Hong Kong's leading multi-national conglomerates. The company merged with its subsidiary Hutchison Whampoa on 3 June 2015, as part of a major reorganisation, to become part of CK Hutchison Holdings.
CLP Group and its holding company, CLP Holdings Ltd, also known as China Light and Power Company, Limited, is an electricity company in Hong Kong. Incorporated in 1901 as China Light & Power Company Syndicate, its core business remains the generation, transmission, and retailing of electricity. It also has businesses in a number of Asian markets as well as EnergyAustralia in Australia. It is one of the two main electricity power generation companies in Hong Kong, the other being Hongkong Electric Company.
CITIC Group Corporation Ltd., formerly the China International Trust Investment Corporation (CITIC), is a state-owned investment company of the People's Republic of China, established by Rong Yiren in 1979 with the approval of Deng Xiaoping. Its headquarters are in Chaoyang District, Beijing. As of 2019, it is China's biggest state-run conglomerate with one of the largest pools of foreign assets in the world.
The People's Insurance Company (Group) of China Limited, known as PICC Group or just PICC, is a Chinese listed insurer. The Chinese Central Government is the controlling shareholder.
Shenhua Group Corporation Limited was a Chinese state-owned mining and energy company. Shenhua Group was founded in October 1995 under the auspices of the State Council of the People's Republic of China. It was the largest coal-producing company in China. In 2014 Shenhua Group produced 437 million tonnes of coal and sold 588 million tonnes of coal. In 2014, Shenhua Group's revenue was 328.6 billion yuan, and the company ranked 196th in the Global Fortune 500. The same year the Shenhua Group's profit was 64 billion yuan. On August 28, 2017, SASAC announced that China Guodian Corporation and Shenhua Group would be jointly restructured, with Shenhua Group becoming China Energy Investment Corporation and absorbing China Guodian Corporation.
China is one of the world's largest producers of nuclear power. The country ranks third in the world both in total nuclear power capacity installed and electricity generated, accounting for around one tenth of global nuclear power generated. As of February 2023, China has 55 plants with 57GW in operation, 22 under construction with 24 GW and more than 70 planned with 88GW. About 5% of electricity in the country is due to nuclear energy. These plants generated 417 TWh of electricity in 2022 This is versus the September 2022 numbers of 53 nuclear reactors, with a total capacity of 55.6 gigawatt (GW). In 2019, nuclear power had contributed 4.9% of the total Chinese electricity production, with 348.1 TWh.
Huaneng Power International, Inc. (HPI), commonly known as Huaneng Power, is a Chinese electric power company. It was established in 1994 by the China Huaneng Group, one of the five largest power producers in China. It engages in the development, construction and operation of large power plants.
China Huaneng Group Co., Ltd., abbreviated as CHNG or Huaneng Group, is one of the five largest state-owned electricity generation enterprises in China, administrated by the State-owned Assets Supervision and Administration Commission of the State Council. It engages in the investment, construction, operation and management of power generation assets and the production and sale of electricity. In 2012, the company was ranked 246th on the Fortune 500 list.
China Power International Development Limited (CPID), also known as just China Power, is a Chinese electric power company incorporated in Hong Kong in 2004. The former ultimate parent company China Power Investment Corporation, a Chinese state-owned enterprise also has the initials "CPI" but in the case of the parent company the "I" stands for "Investment" (投资) not "International" (国际). State Power Investment Corporation (SPIC) became the new parent company of CPID after CPI Group was merged with another state-owned enterprise.
China Huadian Corporation is one of the five largest state-owned power generation enterprises in China, administrated by SASAC for the State Council. It engages in the generation and supply of electricity and heat, and the development of power-related primary energy. It produces about 10% of China's power along with Huaneng Group, Datang Group, SPIC and China Energy.
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