Source: Internetional Power Grid

2020 year is end of the 13^thFive-year Plan, also the year boosting the electric development. Eletricity is the lifeblood of national economy and driving force of morden enterprise meanwhile play the leading role in the national economic growth. Today, eletric power investment and construction industry keep following the requirment of new-developing idea, high quality development view and new development pattern and build a clean and low carbon, safe and highly efficient energy-supply system in full wing, providing affluent power for construction of Chinese socialist modernization.

Chinese electric investment and construction delvelopment ushering the new change

During the 13^th Five-year Plan, our achievements in the investment and construction of eletricity attract worldwide attention. While the main power structure turn from the fossil fuel to clean and low carbon renewable energy.

① For the investment, new energy resouceslike wind and solar play an important role recent year.

② From the scale of investment, electric power investment and constructiondecreased and increased since the reform and openning-up. Between 2016 and Jan.to Sept. in 2020, the total completed investment in the national power projectconstruction reached more than 600 billion yuan.Among them, the investment inpower supply reached more than 278.7 billion yuan; More than 289.9 billion yuan was invested in power grids.

③ From the perspective of investment structure, China's electric power construction investment is inclined to power grid investment from the previous "emphasis on power generation and light delivery", and the investment and construction structure of power supply is increasingly reasonable.From 2016 to 2020, China's total installed power generation capacity reached 1.651 billion kilowatts (by the end of September 2020), and the newly installed power generation capacity of non-fossil energy (including hydropower, wind power and photovoltaic power) exceeded that of thermal power (coal-fired and gas-fired power).

From the perspective of investment subjects, central or local SOEs are the dominant players in power grid and nuclear power investment, while private enterprises and foreign investment are relatively small.(5) From the perspective of investment prospects, nuclear power has been given a certain policy preference, driven by "new infrastructure", UHV, charging piles, integrated energy will set off a new round of investment boom.(6) From the perspective of the comprehensive benefit of investment, the power investment and construction cost are rising steadily and the marginal benefit of power investment is decreasing due to the influence of the price reduction and the decrease of power generation utilization hours and other factors.

④ With China's economy entering the new normal, the all-round promotion of "the high-level foundation of the electric power industry, the modernization level of the industrial chain has been significantly improved", and the realization of high-quality development of the electric power industry has become the development goal of China's electric power investment and construction during the 14th Five-Year Plan period.At the same time, China will be more actively into the world power division of labor system, "double cycle" development pattern, high quality development, multi-level power market, mathematical transformation, high level of opening up and cooperation will become the main trend of China's power investment and construction.

• Core power enterprises continue to increase the pace of foreign investment

With the encouragement and support of the policy, China's core electric power enterprises continue to give full play to China's powerful power infrastructure capacity.By the end of 2019, the total foreign investment of China's electric power enterprises had reached 87.85 billion US dollars, among which the State Grid, China Southern Power Grid, China Three Gorges Corporation and other enterprises were the main players, and the pace of "going global" foreign investment was continuously increased.

The future electric power industry needs to be developed with high quality

Nowadays, power industry is closely related to people's life and production and national economic development. With the rapid growth of new energy installed capacity, as well as the increasing intensity of UHV large-scale investment and power grid upgrading, power grid investment will become the main force of power investment.In order to adapt to the development requirements of the "14th Five-Year Plan", in the future, it is imperative to strengthen the efficient use of resource elements, scientific and technological innovation and progress, build a clean economy, green, low-carbon, safe and efficient modern electric power industry system, and enhance China's position as the main force in the global electric power construction.