Posted inBeijing, China, Hong Kong, World

State-owned giants merge to create world’s largest power company

As part of Beijing’s continued push to cut overcapacity and the number of state-owned enterprises, coal producer Shenhua Group and power utility Guodian will merge, authorities announced (link in Chinese) Monday. The new entity will be the world’s second-largest company by revenue, with US$271 billion in assets, and the largest by installed capacity, according to Bloomberg. […]