State Grid to ramp up innovation efforts

State Grid Corp will further its innovation efforts and continue to invest in the country's high voltage, charging pile and new digital infrastructure sectors as it looks to unlock fresh growth opportunities from China's technology upgrade and industrial reforms.

The utility firm will increase the fixed investment on high voltage, charging pile and new digital infrastructure to 460 billion yuan ($68.4 billion) this year, which in turn would stimulate social investment of up to 900 billion yuan, said Mao Weiming, chairman of State Grid.

Investments in the power grid and related industries during the next five years will exceed 6 trillion yuan, he said.