CTG’s listed power distributor received approval for asset restructuring

Chongqing Three Gorges Water Conservancy & Electric Power (Chongqing Three Gorges), a listed electricity distribution arm of China Three Gorges Corporation (CTG), announced that it has received approval from China Securities Regulatory Committee (CSRC) for its major asset restructuring program on May 10.

The restructuring will put the four regional electricity distribution companies in Chongqing into the listed vehicle, helping further consolidate the achievements under the mixed ownership reform and power system reform jointly spearheaded by CTG and Chongqing Municipal Government.

The restructuring is set to greatly expand Chongqing Three Gorges’ business footprint as well as its market size, transforming the traditional power distributor into a listed diverse power conglomerate. Tts services now cover the core area of the Three Gorges Reservoir Region and industrial parks in Chongqing.

The restructuring will also significantly improve the company’s competitiveness, enabling the restructured firm to embrace a broader range of opportunities for sustainable development. After the restructuring, the company will aim to become a key platform to secure the energy in the reservoir area and to serve the economic development of the Three Gorges Reservoir and the Yangtze River Economic Belt.