China unveils 2-year plan to bolster power equipment sector

BEIJING, Sept. 12 (Xinhua) -- China has introduced a two-year action plan to accelerate the quality growth of its power equipment industry, with measures to promote green and intelligent transformation.

The official document outlines multiple development targets for the 2025-2026 period, including an average annual revenue increase of approximately 6 percent in traditional power equipment and a steady rise in new energy equipment. Leading enterprises in the sector are expected to achieve revenue growth of around 10 percent.

The move comes in response to a global shift toward low-carbon energy and China's own push to build a new-type power system.

Key measures listed in the plan include spurring wind power and other new energy equipment, advancing innovation in new energy storage technologies, expediting the construction of large onshore wind and photovoltaic bases, and eliminating outdated coal-fired capacity in an orderly manner. Efforts will also be made to deepen the integration of information technology with power equipment manufacturing.

International cooperation will be intensified. China aims to expand full supply chain cooperation with emerging markets in wind, photovoltaic and energy storage, encourage component makers to join overseas supply chains, and promote mutual recognition of technical standards, testing, and certification.

The plan was jointly released by the Ministry of Industry and Information Technology, the State Administration for Market Regulation, and the National Energy Administration.

China's green power expansion has gained momentum. By the end of July, the nation's installed power generation capacity had reached 3.67 billion kilowatts, up 18.2 percent year on year. Solar installations surged 50.8 percent to 1.11 billion kilowatts, while wind capacity rose 22.1 percent to 570 million kilowatts. ■