State Grid Corporation: To promote the company's reform work, we must do a "five more"

On January 30, Shu Yinbiao, the Party Secretary and Chairman of the State Grid Corporation of China, chaired a meeting of the company's party group. The session focused on deepening reforms across the organization, reviewing progress from the reform office, and approving in principle the company’s plan to implement the spirit of the 19th National Congress of the Communist Party of China throughout 2018. This marked an important step forward in aligning the company's strategies with national policy directions. In 2017, the State Grid Corporation made significant strides in implementing the vision set by the 19th National Congress. It embraced reform as a core principle, pushing for market-oriented changes and introducing key initiatives that led to substantial progress. These efforts were widely recognized and appreciated by relevant stakeholders. The meeting emphasized that 2018 would be a pivotal year for the company, as it began its full implementation of the new development strategy outlined at the Congress. This year also marks the 40th anniversary of China’s reform and opening-up, making it a critical moment for advancing comprehensive and in-depth reforms. Guided by the principles of socialism with Chinese characteristics, the company aims to fully execute central government directives, plan and deepen reform initiatives, and drive forward transformation with renewed energy and innovative thinking. Strengthening the Party's leadership is essential to achieving high-quality growth through reform, encouraging innovation, and ensuring institutional support for building world-class energy internet companies. With 26 key reform tasks already identified, the company is determined to tackle these challenges with greater effort and more effective measures. On January 31, the State Grid Corporation held a video conference to discuss its reform agenda for 2018, following up on the decisions made during the previous meeting. The conference highlighted the importance of aligning all reform activities with the central government’s guidance. As a leading state-owned enterprise, the company must serve as a model in institutional innovation and contribute to economic and social development. To achieve this, the company will focus on five key areas: enhancing the sense of responsibility for reform, promoting quality development through reform, emphasizing marketization, breaking down institutional barriers, and pursuing differentiated reforms. The goal is to improve efficiency, stimulate vitality, and ensure coordinated development across all business segments. This year represents a new stage in the company's reform journey. All departments and units are urged to focus on key tasks, coordinate power system reforms, state-owned enterprise reforms, and internal management improvements. Specific areas of emphasis include deepening transmission and distribution price reforms, accelerating the development of electricity markets, expanding distribution business pilots, advancing mixed-ownership reforms, innovating power supply services, integrating industry and finance, and addressing historical issues. Through these efforts, the State Grid Corporation is poised to lead the way in shaping a more efficient and competitive energy sector.

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