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2 - State Grid

A general view shows a construction site owned by State Grid Corporation of China -- an electricity company that is the countrys largest state-owned enterprise -- in Beijing on October 17, 2016. Even as US presidential candidate Donald Trump aggressively condemned Beijing, his hotel firm pursued a lucrative business deal with a giant state-owned Chinese firm headed by a top Communist official, sources say. / AFP / FRED DUFOUR (Photo credit should read FRED DUFOUR/AFP/Getty Images) FRED DUFOUR—AFP/Getty Images

This state-owned company is the world’s largest electric utility company and holds a monopoly in China. The core of its business revolves around constructing and operating power grids. State Grid was founded in 2002, a byproduct of China’s three-stage power sector reform that started in 1986. The reform separated the former State Power Corporation of China into two grid companies, resulting in the emergence of State Grid. The company now owns and manages five regional power grid companies and 24 electric power companies. In June, the company managed to run the Qinghai province on 100% renewable energy for seven days as part of a trial.

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Key Metrics & Financials (Last Fiscal Year)

Revenues ($M)$315199
Revenue Percent Change-4.4%
Profits ($M)$9,571.3
Assets ($M)$489838
Profits Percent Change-6.2%
Employees926067
Previous Rank2

Company Facts

Employees926067
SectorEnergy
IndustryUtilities
CEOKou Wei
HQ LocationBeijing, China
Websitewww.sgcc.com.cn
Years on Global 500 List17

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