China's long-stalled power industry overhaul is regaining steam as the country's largest state-owned grid operator resumes efforts to downsize its mammoth business after nearly a decade of resistance that blocked further restructuring industrywide.
State Grid, the larger piece of China's power transmission duopoly and the world's biggest utility, is expected to spin off all of its equipment manufacturing operations by the end of 2021, according to a timetable unveiled by the National Development and Reform Commission (NDRC), China's top economic planner.
