State-invested power accelerates integration of competitive challenges

State power Investment (600886) today, the company received the holding shareholder of the state Development Investment Company, "on the further resolution of the competition with the state to invest in the issue of the commitment letter." Earlier, the state electric power also announced that the holding shareholder will solve the group's internal competition problems.　　This shows that the power company's internal integration of the head has been opened. State investment company said, and strive to spend about 5 years, through asset acquisition and restructuring, and other means of its independent power generation business assets into the country to invest electricity.　　The state investment company will gradually develop and implement the specific operation plan of power asset integration according to the relevant asset status and capital market recognition degree.　　To effectively avoid the competition between the state-invested companies and the state-invested power, China Investment Company in May 2007 issued a letter of commitment to the competition, to determine the state-invested power as the state investment company's power business in the country's only operating platform for capital, will continue to inject power assets into the country to support the continued rapid development of power investment. In fulfilment of the above commitments, the state-invested power has completed a major reorganization of assets at the end of November 2009, injecting the state-invested companies with qualified and qualified power assets into the country for investment; in the same year, the State Investment Corporation and the state investment asset Management company also signed the Entrustment management agreement with the state investment　　The majority of the power assets entrusted by their subordinates are not yet equipped with the injection conditions. In order to further promote the integration of power assets, and more thoroughly solve the potential competition between the state-invested power, the state investment Company is committed to: the state investment Company intends to be in the state investment in the public distribution of convertible bonds within two years after the completion of the conditions, to restart the power assets integration work,　　The independent power generation business assets which meet the listed conditions shall be injected into the country by injection into the state. It is noteworthy that the previous May, State Electric Power (600795) also issued a notice said, Guo Dian group strive to use about 5 years, through asset mergers and acquisitions, restructuring and other means, the state power group, in addition to other direct holding listed companies related assets, business and rights of power generation business assets into the state power.