¡¡ The China State Power Corporation (CSPC) expects to realize profits of 8.6 billion yuan for this year, which represents better performance of the company than last, thanks to the government efforts in restructuring the power industry and developing power grids.

¡¡ A senior CSPC official said here today that the country has done much this year to improve and perfect the newly established State Power Corporation system, and has made remarkable progress in transforming it into a giant group company with more modern operating methods and a shareholding system.

¡¡ China has witnessed overall growth of the power sector this year, said the official, pointing to progress in developing and renovating the urban and rural power grids with emphasis placed on 87 urban grid projects and 1,590 rural ones.

¡¡ Moreover, China has effectively restructured its power generation industry by closing a large group of small coal- consuming thermal power plants which were heavy polluters and inefficient.

¡¡ According to the official, China generated 1.160 trillion kwh of electricity last year, up six percent from a year earlier, and absorbed contracted overseas investment of 1.79 billion US dollars, up 2.5 percent.