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Govt pumps 12.6b yuan into power firms

By Zheng Lifei (chinadaily.com.cn)
Updated: 2009-02-20 19:10

The central government has injected a total of 12.6 billion yuan into the country's three State-owned power firms and two grid companies to boost their capital and help cover losses caused by last year's snowstorms and the Sichuan earthquake, the top State-owned enterprise watchdog said on Friday.

The government has provided 8.73 billion yuan in subsidies to State Grid and 3.34 billion yuan to China Southern Power Grid Co, the State-owned Assets Supervision and Administration Commission (SASAC) said in a statement on its website.

China Huadian Corp and China Huaneng Group received 250 million yuan capital injections respectively, while China Datang Corp got 100 million yuan, SASAC said.

China Guodian Corp and China Power Investment Corp, the other two biggest power-generating companies in the country, did not receive government assistance.

The State Council approved the capital injection plan, SASAC said in the statement.