CSG Harvests in SOE Reform in 13th Five-Year Plan

China Southern Power Grid (CSG) gained breakthroughs and achieved reforms during China's 13th Five-Year Plan (2016-20) and will continue to deepen SOE reform.

The company will strengthen overall coordination and primarily help to complete the main missions of the nation's Three-Year Action Program for SOEs that begins in 2020.

The "Double Hundred Action", or shuangbai action, started in August 2018.

Led by the Leading Group for State-owned Enterprises Reform of the State Council, it selected more than a hundred subsidiaries of central SOEs, and more than a hundred local SOEs to implement reforms between 2018 and 2020.

Five subsidiaries of CSG were selected and CSG's other two affiliated companies were included in Demonstration Reform Action of Sci-tech Enterprises in April 2020.

Overall reform was promoted in the seven enterprises and they played a leading role in normalizing management, mixed ownership reform and incubation of technological achievement.

The 160kV superconductive current limiter with the world's highest voltage and largest capacity, independently developed by a subsidiary of CSG, went into trial operation in the Shantou Nan'ao flexible high voltage direct current (HVDC) project in 2020, which effectively lowered power grid security risks brought by large scale offshore wind power connection.

The technology focused on high-end smart equipment and high-tech services.

The company has made efforts to improve its market-oriented recruitment system and incentive and restraint mechanism.

Many other CSG's subsidiaries also made progress in the field.

CSG promoted both optimization of distribution and structure in the state-owned economy as well as strategic transformation.

In the 13th Five-Year Plan, the company's comprehensive energy and electric vehicle charging service was boosted and its general aviation and industrial internet industries had a sound start.

Its industrial financing system progressed and its equity investment and industry funds achieved good results.

What's more, CSG deepened power system reform by adjusting power costs, building China's first shareholding electricity transaction institute, promoting market-oriented power trade and making efforts following the power price lowering policies to support resumption of production.

It's worth mentioning that CSG helped industrial and commercial users eliminate about 20 billion yuan ($3.1 billion) of electricity expenditure in 2020, benefiting more than 8.4 million households.

In the 14th Five-Year Plan (2021-25), CSG will continue to promote power system reform and highly value key missions of SOE reform.

The company announced this January that it aims to become a world-leading enterprise and a digital power grid operator, a business integrator of the energy industry value chain and an outstanding energy service provider by 2035.

A CSG worker inspects the power grid equipment in Guangxi Zhuang Autonomous Region to guarantee stable power supply. [Photo/sasac.gov.cn]

(Executive editor: Wang Ruoting)