国家能源局局长王宏志：积极推进第二批、第三批“沙戈荒”大型风电光伏基地项目建设。加快发展海上风电。积极发展分布式光伏、分散式风电。2025年新增风电光伏装机2亿千瓦左右，可再生能源消费量超过11亿吨标煤。State-owned enterprise market cap management guidelines are implemented, and Institutions claim that the investment value of Bullish Assets is highlighted.
On December 16, the National Energy Administration's 2025 regulatory work meeting was held in Beijing.
The meeting pointed out the need to adhere to high coordination and regular pressures, strengthen the regulation of fair and open access to Power Grid Equipment and Oil & Gas pipeline facilities, revise relevant regulatory measures, explore cross-departmental joint actions, and enhance regulation of the natural monopoly segments of Energy. It is important to build systems and correct order, improve the foundational rules and institutions of a unified national electrical market, enhance the organic connection and functional complementarity of markets at all levels and all types of Trades, continue to regulate and rectify behaviors that violate market rules, unfair competition, and inappropriate administrative interventions, and accelerate the construction of a unified national electrical market.
Wang Hongzhi, director of the National Energy Administration: Actively promote the construction of the second and third batches of large-scale Wind Power and photovoltaic base projects in "Shagoarhuang." Accelerate the development of offshore Wind Power. Actively develop distributed photovoltaics and decentralized Wind Power. By 2025, about 0.2 billion kilowatts of new Wind Power and photovoltaic installed capacity is expected, with renewable Energy consumption exceeding 1.1 billion tons of standard coal.
By 2025, China will approve the start of a batch of coastal Nuclear Power projects that are ready to begin construction. Steadily promote the construction of ongoing Nuclear Power projects, with installed Nuclear Power capacity reaching around 65 million kilowatts by the end of 2025, ensuring the safe and stable operation of Nuclear Power units. Additionally, the construction of a new power system will be coordinated.
According to the Zhito Finance APP, on December 17th, the State-owned Assets Supervision and Administration Commission published several opinions on improving and strengthening the market value management of central enterprises holding listed companies. China Securities Co.,Ltd. pointed out that, from the perspective of specific tools,mergers and acquisitions.Restructuring serves as the main tool for central enterprises to create value in this round, with continuous Bullish policies emerging, aimed at promoting corporate development and achieving new qualitative productivity; Shareholding buybacks are implemented as a quick response tool to support stock prices, establishing a normalized application mechanism; dividend tools serve as a fundamental resource for managing investor expectations; and spin-offs are positioned as supplementary tools, with policy windows expected to gradually open.
Changjiang Securities pointed out that Coal prices have reached a new low for the year, continuing to emphasize the allocation value of thermal power.
Additionally, as of December 13, the 10-year government bond yield further decreased to 1.78%, reaching a new low for the year.
Moreover, China Yangtze Power conducted its first interim profit distribution since its listing. The bank emphasized that considering the upcoming expectations for fiscal and monetary policy, the downward channel of interest rate centrals may continue, and the return of dividend assets represented by Nuclear Power in the equity market is just a matter of time, firmly optimistic about the long-term stable investment value of Nuclear Power.
Central State-owned Enterprises in the Electrical Utilities sector in Hong Kong include:
Huadian Power International Corporation (01071), CHINA LONGYUAN (00916), CHINA RES POWER (00836), CHINA POWER (02380), Huaneng Power International, Inc. (00902), CGN POWER (01816).
