State Grid Co., Ltd. was established on December 29, 2002. It is a wholly state-owned company directly managed by the central government established in accordance with the Company Law. It has a registered capital of 829.5 billion yuan. Its core business is investing in the construction and operation of power grids. It is an extremely large state-owned key enterprise related to national energy security and the lifeline of the national economy.
The company's business area covers 26 provinces (autonomous regions and municipalities) in my country, with power supply coverage accounting for 88% of the country's land area and a population of more than 1.1 billion. In 2020, the company ranked 3rd among the Fortune Global 500. Over the past 20 years, State Grid has continued to set the longest safety record for ultra-large power grids in the world. It has built a number of ultra-high voltage transmission projects, becoming the power grid with the strongest power transmission capacity and the largest scale of new energy integration in the world. It has ranked first among central enterprises in terms of patent ownership for nine consecutive years. The company invests and operates backbone energy networks in nine countries and regions, including the Philippines, Brazil, Portugal, Australia, Italy, Greece, Oman, Chile and Hong Kong, China. It has been awarded A-level performance appraisal by the State-owned Assets Supervision and Administration Commission of the State Council for 16 consecutive years, and has received national sovereign credit ratings from three major international rating agencies, Standard & Poor's, Moody's and Fitch, for 8 consecutive years.
