Chinese power stocks surge on State Grid’s record US$574 billion investment plan

Shares of Chinese electricity and grid equipment makers surged after State Grid unveiled a 4 trillion yuan (US$574 billion) plan to upgrade the country’s power networks, as surging demand and the global race in artificial intelligence drive investment in energy infrastructure. Baoding Tianwei Baobian Electric, which makes transformers, climbed 4.6 per cent to 14.50 yuan in Shanghai and power equipment manufacturer Henan Pinggao Electric jumped 4.8 per cent to 20.83 yuan. Suzhou Electrical...