China’s State Grid, which on Tuesday announced a close to $1bn investment in Brazil, often refers to itself as the backbone of its homeland.
The state-owned group, which serves more than 1bn people in China and employs 1.5m, is so closely linked to the government it receives a public grading – almost always an “A” – by its state supervisor.
Electricity was one of the last sectors to undergo structural reform as China moved away from a planned economy, and State Grid was born from that process in 2002. The reforms also created China Southern Power Grid and five state-owned generators.
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