Group 1 - The core viewpoint of the report indicates a significant growth in China's electricity market, with the number of market participants reaching 816,000 in 2024, a year-on-year increase of 8.9% [1] - The total installed power generation capacity in the country is projected to reach 3.349 billion kilowatts, with an addition of 429 million kilowatts in 2024, driven primarily by wind and solar energy [1] - The report highlights a 6.7% year-on-year increase in national electricity generation, totaling 10.09 trillion kilowatt-hours, with wind and solar contributing 58.1% of the new generation [1] Group 2 - Market-oriented electricity trading volume is expected to reach 6.18 trillion kilowatt-hours in 2024, reflecting a 9.0% increase and accounting for 62.7% of total electricity consumption [2] - The report notes that the largest monthly trading volume occurred in July at 603.5 billion kilowatt-hours, while the smallest was in February at 416.1 billion kilowatt-hours [2] - In the State Grid operating area, market trading volume reached 4.72 trillion kilowatt-hours, a 6.3% increase, while the Southern Grid area saw a 22.1% increase to 1.14 trillion kilowatt-hours [2] Group 3 - The report emphasizes the positive progress in the construction of the electricity market, with a multi-level, multi-category, and multi-functional market system being established [3] - The trading scale of green electricity certificates has significantly increased, reflecting the effective realization of green environmental value and promoting low-carbon transformation [3] - The retail market is developing steadily, with new business models such as energy storage and virtual power plants gaining momentum, contributing to the construction of a new power system [3]