中国- 国家电网确认 “十五五” 规划 4.4 万亿元人民币资本支出计划-China Utilities-State Grid Confirms Rmb4tn Capex Plan for 15th FYP
2026-01-19 02:29
January 16, 2026 01:52 AM GMT China Utilities | Asia Pacific State Grid Confirms Rmb4tn Capex Plan for 15th FYP Asia Pacific Industry View Attractive State Grid has confirmed a Rmb4trn capex plan for the 15th FYP, 40% higher than the 14th FYP and in-line with our estimates. The proposed capex implies a 7% CAGR during 2026-30. We think NARI, Pinggao and XJ Electric will benefit most. Key Takeaways On Jan 15, State Grid announced a Rmb4,000bn capex plan for the 15th Five-year Plan (FYP) – a 40% increase over ...