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China injects $1.9 bln in five quake and snow-hit power firms
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16:56, February 20, 2009

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· 8.0 Richter scale earthquake hits SW China
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China's top state assets watchdog said it had injected nearly 12.67 billion yuan (1.86 billion U.S. dollars) in five major state-owned power companies hit by two major disasters last year.

According to a website notice issued by the State-owned Assets Supervision and Management Commission (SASAC) Friday, the money was designed to help five firms offset adverse impacts and return to normal operations after snow storms in early 2008 and the deadly May 12 earthquake.

The 12.7 billion yuan package included 8.73 billion yuan for State Grid Corp., 3.34 billion yuan for China Southern Power Grid Corp., 250 million yuan for China Huadian Corp., 250 million yuan for China Huaneng Group and 100 million for China Datang Corp.

Figures showed that in the earthquake alone, more than 140 state-owned enterprises directly under the SASAC suffered direct economic losses of more than 40 billion yuan.


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