China Electrical Equipment Group Co., Ltd. (CEEG) was established in Shanghai on the 25th. CEEG is a state-owned company which the central government manages directly. It is based on the restructuring of a few electric equipment companies including China XD Group Co. Ltd, XJ Group Corp, Pinggao Group Co. Ltd and Shandong Electric Engineering & Equipment Group Co. Ltd.
China aims to move its electrical equipment manufacturing industry up to the high-end of the global value chain. It is viewed as being of strategic importance to the implementation of China’s energy security.
After the completion of the reorganization, CEEG’s business will produce equipment related to power generation (including new energy), power transmission, transformation, and distribution. It may also be involved in energy storage, rail transportation, industrial automation, and energy grid. It vows to be the most capable and comprehensive manufacturer of AC and DC electrical equipment.
Source: SASAC, September 25, 2021