By Zhong Nan | chinadaily.com.cn | Updated: 2021-09-24 16:33
The new group was formed by a number of subsidiaries owned by the Xi'an-based China XD Group Corp and the Beijing-headquartered State Grid Corp of China - two centrally-administered State-owned enterprises.
Bai Zhongquan, China XD Group Corp's chairman, has been appointed as the new group's chairman.
The State-owned Assets Supervision and Administration Commission of the State Council owns about 66.67 percent of the new group's shareholdings, with the rest owned by Beijing-based China Chengtong Holdings Group Ltd and China Reform Holdings Corp Ltd, two State-owned asset-operating companies.
The subsidiaries of China XD Group Corp and State Grid Corp of China involved in this reorganization move include Shandong Electrical Engineering & Equipment Group Co Ltd, Henan-province based Pinggao Group Co Ltd and a number of manufacturers across China.
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