CITIC SEC: A new round of upgrades for coal-fired power generation has begun, supporting the construction of a new electrical utilities system.

A research report from CITIC SEC indicates that the influence of new energy power generation is continuously increasing, placing higher demands on coal-fired power generation, which plays a fundamental role in the electrical utilities system, thereby promoting the upgrade of coal power, which aids in the construction of a new electrical utilities system. The "Implementation Plan for the Special Action of Upgrading the Next Generation of Coal-fired Power (2025-2027)" covers existing, new, and demonstration units, with new indicators or enhanced current requirements, leading to the upgrade of coal-fired power; it clarifies that energy regulatory departments in each province and city should formulate action plans tailored to their region and control the pace autonomously; it provides policy support for enterprises to enhance their renovation enthusiasm through partnership with new energy, improving ancillary service markets, and issuing REITs.