China said to mull over three mega power firms in 5.9t yuan remix

Beijing

CHINA is considering plans to create three power giants through mergers of eight coal-fired and nuclear generators with combined assets of almost 5.9 trillion yuan (S$1.2 trillion), according to people with knowledge of the plan.

The proposal, which is only one option being considered as the government of President Xi Jinping seeks to restructure the state-run power sector, hasn't been finalised and is subject to change, said the people, who asked not to be identified as the information isn't public. The mergers are proposed for the unlisted parent companies, not units traded in Hong Kong and Shanghai, they added.