China Guodian Corporation
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| Type | State-owned enterprise |
|---|---|
| Industry | Power generation |
| Founded | 2002 |
| Headquarters | Beijing, People's Republic of China |
| Area served | People's Republic of China |
| Key people | Chairman: Mr. Zhou Dabing |
| Website | China Guodian Corporation |
China Guodian Corporation (Guodian, 国电) is one of the five largest power producers in the People's Republic of China, administrated by SASAC for the State Council of the People's Republic of China. It is engaged in development, investment, construction, operation and management of power plants and power generation for electricity supply in Northern China, Northeast China, Central China, East China. Sichuan and Chongqing, Shandong, Yunnan, Guizhou, Guangxi and Xinjiang as well as in Burma.
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[edit] Subsidiaries
- Guodian Power Development Company Limited (SSE: 600795), which is listed on the Shanghai Stock Exchange, is the Group's major thermal power subsidiary.[1]
- China Longyuan Power (SEHK 00916) - is the Group's main wind power company.
[edit] Insurance business
China Guodian Corporation is setting up a property insurance company in Beijing to diversify business into other areas, trying to aid its move towards becoming a more comprehensive energy conglomerate.[1] China Guodian will hold the majority stake in the proposed new insurance company, whose registered capital is expected to reach 1 billion yuan ($146 million).
In the first half of 2008, China Guodian invested in a life insurance company. Later in September, the group purchased a 19.6 percent stake in a city commercial bank in Shijiazhuang, capital city of Hebei province, becoming the bank's largest shareholder.
Prior to China Guodian, the State Grid Corp and several other energy groups also expanded their businesses to the financial sector. They have established a number of insurance companies and hold stakes in securities and futures brokerages.
[edit] Assets
As of June 2008, the Company's total assets amounted to 284.3 billion yuan.
