For the first time ever, investment in China’s power transmission and distribution was higher than that in generation last year. This underscores the sector’s positive prospects, explained in our research report last November. The investment included Rmb14.7 billion (US$2.2 billion) spent in the last two months of 2008 at the start of the two-year Rmb4 trillion (US$580 billion) stimulus programme focused on infrastructure in which improving the grid will be a major element. The two grid...
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