Chinese Premier hopes State Power Co will help National power industry

Jan 18, 1997 01:00 AM

Chinese premier Li Peng has expressed hope that the establishment of a State Power Corporation will help promote a better and faster development of the nation's power industry. Setting up the new corporation, which is part of the reform of government structures, is aimed at enabling the power administration system to keep in line with market rules. The State Power Corporation, is a state-owned business entitled to manage the nation-wide power network and inter-regional power transmission. Its establishment is expected to lead to the abolition of the current Ministry of Power Industry after a period of operation. After hearing reports from Shi Dazhen, general manager of the corporation, and other industry officials at Friday's meeting, Li said that by taking the reform measures, China wants to diversify sources of investment in power generation facilities and facilitate the industry's development. He urged the corporation to play a leading role in the national economy and serve the public well. The premier asked all enterprises within the power industry to enhance technological progress and strengthen management to help cut costs and increase efficiency. He also noted that in the coming years, more government departments administrating industrial affairs will gradually convert to corporations or industrial associations so that governmental and business functions can be separated in accordance with market rules.

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