The Hot Zone
China's newly announced air defense identification zone over the East China Sea aims to shore up national security
Current Issue
· Table of Contents
· Editor's Desk
· Previous Issues
· Subscribe to Mag
Subscribe Now >>
Expert's View
Market Watch
North American Report
Government Documents
Expat's Eye
Photo Gallery
Reader's Service
Learning with
'Beijing Review'
E-mail us
RSS Feeds
PDF Edition
Reader's Letters
Make Beijing Review your homepage
Hot Links

cheap eyeglasses
Market Avenue

Relief Work
Special> Aftermath of the Quake> Relief Work
UPDATED: June 6, 2008  
Disasters Slash Profits of China's Largest Power Grid

Last month's deadly quake and blizzards over the winter combined to slash State Grid Corp. of China's (SGCC) profits, which fell more than 80 percent year-on-year during the first five months to 2.9 billion yuan (about 408 million U.S. dollars).

The decline came despite a 14.5-percent rise in operating income to 441.9 billion yuan.

Repairing the damage from the disasters will cost an estimated 73.6 billion yuan, the leading power grid operator said, compared with 47.1 billion yuan in profits in 2007.

Repair of the quake damage alone is expected to cost 34.6 billion yuan, Thursday's China Securities Journal reported.

Preliminary estimates showed the quake caused SGCC more than 12 billion yuan in losses, with its Sichuan Province division accounting for 10.6 billion yuan.

SGCC spokesman Lu Jian said that this year would be challenging but the company was running smoothly, according to Thursday's Beijing News.

The company has fixed nearly all the transmission lines and transformer substations damaged in the May 12 earthquake.

SGCC distributes power in 26 provincial regions and its transmission network covers more than 88 percent of the country.

The gap between power supply and demand in SGCC's service territory is expected to reach 10 million kilowatts this summer, exacerbated by coal shortages and weather problems, a local newspaper cited SGCC sources as saying.

(Xinhua News Agency June 5, 2008)

Top Story
-Protecting Ocean Rights
-Partners in Defense
-Fighting HIV+'s Stigma
-HIV: Privacy VS. Protection
-Setting the Tone
Most Popular
About BEIJINGREVIEW | About beijingreview.com | Rss Feeds | Contact us | Advertising | Subscribe & Service | Make Beijing Review your homepage
Copyright Beijing Review All right reserved