The State-owned Assets Supervision and Administration Commission (SASAC) of the State Council has announced an injection of additional capital into five central government-administered power enterprises.
SASAC announced on its website on Feb. 20, that it provided 12.67 billion yuan to power enterprises in 2008, including 8.73 billion yuan to the National Grid, 3.34 billion yuan to China Southern Power Grid Corporation Ltd, 0.25 billion yuan to China Huadian Corporation, 0.25 billion yuan to China Huaneng Group (CHNG), and 0.1 billion yuan to China Datang Corporation (CDT).
An official from the Publicity Department of SASAC told Caijing magazine that the funds were intended to compensate central power enterprises for losses they suffered due to natural disasters.
The SASAC statement said the injections were to be used to resume disaster-affected operations. SASAC did not arrange any other capital injection issue in 2008, disappointing power enterprises that had been hoping to receive compensation for "policy-related losses," due to the government controls on electricity prices.
For more details, please read the complete Chinese story here at:
http://www.caijing.com.cn/2009-02-20/110072169.html
(China.org.cn by Fan Junmei, February 23, 2009)
